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As an auditor for the CPA form of Hinkson and Calvert, you encounter the following...

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Accounting

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As an auditor for the CPA form of Hinkson and Calvert, you encounter the following situations in auditing different dients. 1 Whispering Winds Corp. is a closely held corporation whose stock is not publicly traded on December 5, the corporation acquired land by issuing 4.500 shares of its $20 par value common stock. The owners asking price for the land was $126,500, and the fair value of the land was $124.500. Sandhill Co. is a publicly held corporation whose common stock is traded on the securities markets. On June 1. It acquired tand by issuing 20,000 shares of its $10 par value stock. At the time of the exchange the land was advertised for sale at $272.500. The stock was selling at $11 per share 2 Prepare the journal entries for each of the situations above. (Credit account titles are automatically Indented when antount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Dates Account Titles and Explanation Debit . Textbook Media Ust of Accounts Sive for Attempts unlimited Submit Antwer

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