Issuance of Stock for Noncash Assets On July 1, 2014, Jones Corporation, a new corporation, issued 40,000 shares of its common stock to finance a corporate headquarters building. The building has a fair market value of $1, 200,000 and a book value of $800,000. Because Jones is a new corporation, it is not possible to establish a market value for its common stock. Prepare a journal entry to record the issuance of stock for the building, assuming the stock is no-par stock. Prepare a journal entry to record the issuance of stock for the building, assuming the stock has a stated value of $4 per share. If an amount box does not require an entry, leave it blank