As an auditor for the CPA firm of Hinkson and Calvert, you encounter the following situations in auditing different clients.

Marigold Corp. is a closely held corporation whose stock is not publicly traded. On December $5,$ the corporation acquired land by issuing $5,000$ shares of its $$20$ par value common stock. The owners' asking price for the land was $$124,500,$ and the fair value of the land was $$117,000.$

Cullumber Company is a publicly held corporation whose common stock is traded on the securities markets. On June $1,$ it acquired land by issuing $21,000$ shares of its $$10$ par value stock. At the time of the exchange, the land was advertised for sale at $$261,500.$ The stock was selling at $$11$ per share.