PROPERTY PLANT AND EQUIPMENT JOURNAL ENTRIES LAND WAS PURCHASED FOR $10,000 OF CASH

LAND $10,000 CASH $10,000

LAND WAS PURCHASED BY BORROWING $20,000

LAND $20,000 NOTES PAYABLE $20,000

AN OWNER TRANSFERRED LAND WORTH $30,000 TO THE COMPANY FOR COMMON STOCK

LAND $30,000 COMMON STOCK $30,000

EQUIPMENT WAS PURCHASED FOR $5,000 OF CASH

EQUIPMENT $5,000 CASH $5,000

EQUIPMENT WAS PURCHASED ON CREDIT FOR $18,000

EQUIPMENT $18,000 NOTES PAYABLE $18,000

AN OWNER TRANSFERRED EQUIPMENT WORTH $3,000 TO THE COMPANY IN EXCHANGE FOR COMMON STOCK

EQUIPMENT $3,000 COMMON STOCK $3,000

A BUILDING WAS PURCHASED FOR $40,000 OF CASH

BUILDING $40,000 CASH $40,000

A BUILDING WAS ACQUIRED FOR $50,000 BY BORROWING

BUILDING $50,000 NOTES PAYABLE $50,000

AN OWNER TRANSFERRED A BUILDING WORTH $100,000 TO A COMPANY IN EXCHANGE FOR COMMON STOCK

BUILDING $100,000 COMMON STOCK $100,000

REVIEW WHEN EQUIPMENT, BUILDING OR LAND IS PURCHASED IT IS PAID FOR WITH CASH, BORROWING OR COMMON STOCK