Below are transactions related to Impala Company.

a. The City of Pebble Beach gives the company 5 acres of land as a plant site. The market value of this land is determined to be $90,000.

b. 14,000 shares of common stock with a par value of $55 per share are issued in exchange for land and buildings. The property has been appraised at a fair market value of $900,000, of which $186,500 has been allocated to land and $713,500 to buildings. The stock of Impala Company is not listed on any exchange, but a block of 100 shares was sold by a stockholder 12 months ago at $71 per share, and a block of 200 shares was sold by another stockholder 18 months ago at $63 per share.

c. No entry has been made to remove from the accounts for Materials, Direct Labor, and Overhead the amounts properly chargeable to plant asset accounts for machinery constructed during the year. The following information is given relative to costs of the machinery constructed.

Materials used


Factory supplies used


Direct labor incurred


Additional overhead (over regular) caused by construction of machinery, excluding factory supplies used 2,610

Fixed overhead rate applied to regular manufacturing operations 60% of direct labor cost

Cost of similar machinery if it had been purchased from outside suppliers 44,270


Prepare journal entries on the books of Impala Company to record these transactions. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)