Journal entries for 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 20,000 shares of $10 par value common stock in the acquisition of inventory with a market value of $175,000, land valued at $220,000. a building valued at $1,400,000, and equipment valued at $405,000.

b. Issues 10,000 shares of $100 par value preferred stock at par. The preferred stock is subject to mandatory redemption in five years.

c. Issues 5,000 shares of $1 par value common stock upon the exercise of stock warrants.

The firm had issued the stock warrants several years previously for $8 per warrant and properly recorded the sale of the warrants in the accounts. The exercise price is $24 plus one warrant for each share of common stock.

d. Issues 20,000 shares of $10 par value common stock upon the conversion of 10,000 shares of $50 par value convertible preferred stock originally issued for par. Record the conversion using book values.