10 pts to whoever can help me journalize this accounting problem?

Answers:0   |   LastUpdateAt:2012-08-17 12:08:03  

Question
Legion of Us
Asked at 2012-08-17 12:08:03
As an auditor of the accounting firm of Bunge and Dodd, meets the following situations in different customer audits .

1 .

Desi Corporation is a private limited company whose shares are held unlisted . On 5 December, the company acquired the land through the issuance of 5,000 shares of its $ 20 par value common. The asking price for the land owners was $ 120,000, and the fair market value of the land was $ 115,000.
2 .

Lucille is a publicly traded corporation whose common stock is traded on the stock markets . On June 1 , which acquired the land through the issuance of 20,000 shares of its $ 10 par value . At the time of exchange , the land was advertised for sale at $ 250,000. The action was selling at $ 12 per share.

instructions

Prepare journal entries for each of the above
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