Your answer is partially correct 1. As an auditor for the CPA firm of Hinkson and Calvert, you encounter the following situations in auditing different clients Skysore Inc, is a closely held corporation whose stock is not publicly traded on December 5, the corporation equired land by issuing 3,000 shares of its $20 par value common stock. The owners asking price for the land was $121.500, and the fair value of the land was $116,500 Orlole Company is a publicly held corporation whose common stock is traded on the securities markets. On June 1. It acquired land by issuing 19,000 shares of its $10 par value stock. At the time of the exchange the land was advertised for sale at $260,000. 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 amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) No. Dates Account Titles and Explanation Debit Credit 1 Dec 5 Caicos Prepare the journal entries for each of the situations above. (Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Dates Account Titles and Explanation Debit Credit 1 Dec 5 ht con Paso inconmon Stoch en Contains of women stock 2 June 13 Canion to Paid in Cantalices of Par Common Stock e Textbook and Media List of Accounts