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27 June, 09:49

A corporation issues 2,000 shares of common stock for $32,000. The stock has a stated value of $12 per share. The journal entry to record the stock issuance would include a credit to Common Stock for a.$32,000. b.$2,000. c.$12,000. d.$24,000.

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  1. 27 June, 11:56
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    d.$24,000

    Explanation:

    Given that

    Issuance of common stock = $32,000

    Number of shares = 2,000 shares

    Stated value per share = $12 per share

    By considering the above information

    The common stock would be credited for

    = Number of shares * Stated value per share

    = 2,000 shares * $12 per share

    = $24,000

    Hence, the correct option is d. $24,000
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