principles of Accounting Chapter 13 Exercises 1 Prepare journal entries to record the following four separate issuances of stock. 1) A corporation issued 80 shares of $5 par value common stock for $700 cash. 2) A corporation issued 40 shares of no-par common stock for $800 cash. The stock has a $1 per share stated value. 3) A corporation issued 40 shares of no-par common stock in exchange for land, estimated to be worth $800. The stock has no stated value. 4) A corporation issued 20 shares of $30 par value preferred stock for $900 cash