As an auditor for the firm of Gratis and Goode, you encounter the following situations in auditing different clients.

1.	Bramble SpA is a closely held corporation whose stock are not publicly traded. On December 5, the corporation acquired land by issuing 5,000 19 par value ordinary shares. The owners asking price for the land was 132,500, and the fair value of the land was 123,500.
2.	Sheffield A/S is a publicly held corporation whose ordinary shares are traded on the securities markets. On June 1, it acquired land by issuing 20,000 10 par value ordinary shares. At the time of the exchange, the land was advertised for sale at 261,500. The shares were selling at 11 per share.

Prepare the journal entries for each of the situations above.