Journal entries to record the issuance of capital stock. Prepare journal entries to record the issuance of capital stock in each of the independent cases below. You may omit explanations for the journal entries. A firm does the following:

a. Issues 25,000 shares of $10-par value common stock for $25 per share.

b. Issues 10,000 shares of $100-par value convertible, callable preferred stock at par.

c. Issues 12.000 shares of common stock ($1 stated value) in the acquisition of land.

The shares trade on the market for $15 per share. The assessed value of the land is $140,000. The owners of the land listed it for sale at $190,000.

d. Grants 5,000 stock options to employees to purchase shares of the firm's common stock ($10 par value) for $60 per share, the market price on the date of the grant.

e. Refer to part

d. Holders of 3,000 stock options exercise their options.

f. Issues 10,000 shares of par-value common stock ($10 par value) in exchange for convertible bonds with a book value of $300,000. The shares sell on the market for $35 per share. Use the book value method to record the conversion.

g. Refer to part

f. Record the conversion using the market value method.

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