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1- Stonehur . St C ' - . . orporation IS authorized to Issue 100,000 shares of $5 par value common stock and 2,000 shares of $100 a . .. . transactions; p r value 6% preferred stock. Prepare the Journal entries to record the followmg July 15 Issued 1 000 . , shares of common st ck to ' ' . I orgamzation of the corpofaon 0 an attorney for a bill of $7,000 in connection With the Jul My :3 ::::e: 2,000 shares of preferred stock for cash of $120 per share 1 Au 1 I ed 0,000 shares of common stock in exchange for land with an asking price of $75,000 Preg 8 Issue 5,000 shares of common stock for $35,000 in cash. r , . . p e e stock holder 5 eqUIty section of the balance sheet using the information from above and a retained earnings balance of $3,579. 2' . . . . 2 500 ShBrandt Corporation is authorized to issue 100,000 shares of $3 par value common stock and , .ares of 5100 par value 8% preferred stock. Prepare the journal entries to record the following transactions: - . April 15 Issued 1,000 shares of common stock to an attorney for a bill of $9,000 in connection With the organization of the corporation I April 25 Issued 2,000 shares of preferred stock for cash of $115 per share April 27 Issued 8,000 shares of common stock in exchange for a price of land with a market price of $50,000. The stock'was selling for $25 per share that day. May 1 Issued 15,000 shares of common stock for $90,000 in cash. Prepare the st0ck holder's equity section of the balance sheet using the information from' above and a retained earnings balance of $8,500. 3. Duncan Corporation has 2,000 shares of $100 par value 6% preferred stock and 20,000 shares of $10 par value common stocl