Exercise 11-11A Issuing stock for assets other than cash LO 11-4 Tom Yuppy, a wealthy investor, exchanged a plot of land that originally cost him $36,480 for 1.140 shares of $10 par common stock issued to him by Leuig Corp. On the same date, Leuig Corp. issued an additional 2,280 shares of stock to Yuppy for $32 per share Required a. What was the value of the land at the date of the stock issue? Value of the land b. Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (1A), or financing activity (FA) Use NA to indicate that an element was not affected by the event. Balance Sheet Income Statement Expense Net Income Assets Reven Stockholders' Equity Commor Stock Cash . Land - 1- Exchange of land for shares 2 - suo bonal Shares c. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, selec required in the first account field.) View transaction list Journal entry worksheet