Journalize issuance of common stock. E11.3 (LO 2), AP During its first year of operations, Mona Corporation had these transactions pertaining to its common stock. Jan. Issued 30,000 shares for cash at $5 per share. July Issued 60,000 shares for cash at 1 $7 per share. Instructions 10 a. Journalize the transactions, assuming that the common stock has a par value of $5 per share. b. Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. Journalize issuance of common stock. E11.4 (LO 2), AP Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following independent assumptions. a. The stock had a par value of $5 per share and was issued for a total of $52,000. a b. The stock had a stated value of $5 per share and was issued for a total of $52,000. c. The stock had no par or stated value and was issued for a total of $52,000. d. The stock had a par value of $5 per share and was issued to attorneys for services provided during incorporation valued at $52,000. e. The stock had a par value of $5 per share and a was issued for land worth $52,000. a Journalize noncash common stock transactions. E11.6 (LO 2), AP As an auditor for the CPA firm of Hinkson and Calvert, you encounter the following situations in auditing different clients. 1. LR Corporation 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 $120,000, and the fair value of the land was $110,000. 2. Vera Corporation is a publicly held corporation whose common stock is traded on the securities markets. On June 1, it acquired land by issuing 20,000 shares of its $10 par value stock. At the time of the exchange, the land was advertised for sale at $250,000. The stock was selling at $11 per share. Instructions Prepare the journal entries for each of the situations above