Prepare journal entries for each of the following selected transactions that occurred during Tio Networks
Corporation€™s first year ofoperations:

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2014 Jan. 15 21 15 Issued 2,000 common shares to the corporation's promoters in exchange for their efforts in creating it. Their efforts are estimated to be worth $31,500. 15,000 common shares were issued for cash of $14 per share. Feb. Mar. 9 6,000 preferred shares were issued for cash totalling $110,600. 55,000 common shares were issued in exchange for land, b equipment with appraised values of $315,000, $420,000, and $112,000 respectively. Aug.