Stock Issuance $($Noncash Assets, Subscriptions, and Treasury Stock$)$

Smith & Cline had the following stock transactions during the year:

a$.$ Issued $5,000$ shares of common stock with a $$5$ par value in exchange for real estate $($land$)$ with a fair market value of $$27,500.$

b$.$ Issued $7,500$ shares of common stock with a $$5$ par value and $$6$ fair market value in exchange for a building with an uncertain fair market value,

c$.$ Received subscriptions for $10,000$ shares of $$5$ par common stock for $$65,000.$

d$.$ Received a payment of $$30,000$ on the stock subscription in transaction $($c$).$

e$.$ Received the balance in full for the stock subscription in transaction $($c$)$ and issued the stock.

f$.$ Purchased $1,000$ shares of its own $$5$ par common stock for $$7$ a share.

g$.$ Sold $500$ shares of the treasury stock in transaction $($f$)$ for $$7\mathrm{.}50$ a share.

h$.$ Sold $500$ shares of the treasury stock in transaction $($f$)$ for $$6\mathrm{.}75$ a share.

Prepare general journal entries for these transactions, identifying each by letter.

Page: $1$

DATE

$1$

$2$

$3$

$4$

$5$ b$.$ Building $$

$6$

$7$

$8$

ACCOUNT TITLE

DOC. POST.

No$,$ R$$F$.$

DEBIT

CREDIT