Prepare the journal entries for the following unrelated transactions:
1. A truck valued at $62,000 is purchased in exchange for 4,000 preferred shares. The current share price is $14.25.
2. Land that was purchased for $300,000 is exchanged for 105,000 common shares. The land is currently valued at $1,020,000. Common share have a fair value of $9.70 per share.

Required:
Prepare the journal entries for the above scenario, under IFRS.