Question 1: Luis SLU is authorized to issue 1,000,000 R$5 par value ordinary shares. Jan. 10-Issued 400,000 ordinary shares at R$8 per share. July 1 - Issued 100,000 ordinary shares for land. The land had an asking price of R$900,000. The shares are currently selling on a national exchange at R$8.25 Sept. 1-Purchased 10,000 ordinary shares for the treasury at R$9 Dec. 1-Sold 4,000 treasury shares at R$10 per share. Instructions: 1. Prepare the journal entries for the transactions. per share. per share. 2. Prepare the equity section assuming the company had retained earnings of R$200,000 at December 31 06 Markel