1.Prepare the journal entries for this transactions

a.Peterson Company issued 4,000 shares of preferred stock for $240,000.The stock has a par value of $60 per share.

b.On December 2, 2014, Ewell Company purchases a piece of land from the original owner.In payment for the land, Ewell Company issues 8,000 shares of common stock with $1.00 par value.The land has been appraised at a market value of $400,000.

c.Chaney Corporation issued 20,000 shares of common stock on January 1, 2014.The stock has par value of $1.00 per share and was sold at $30 per share.

d.Bradley Corporation issued 10,000 shares of common stock on January 1, 2013.The stock has par value of $0.01 per share and was sold at $25 per share.