A corporation issues 4,500 shares of common stock for $144,000. The stock has a stated value of $19 per share. Whatamount of credit to Common Stock would the journal entry to record the stock issuance include?Select the correct answer.$85,500$144,000$4,500$58,500

Answered: A corporation issues 4,500 shares of…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 9Q: A corporation issues 5,000 shares of $1 par value stock for some equipment with a clearly determined...

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A corporation issues 4,500 shares of common stock for $144,000. The stock has a stated value of $19 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include? Select the correct answer. $85,500 $144,000 $4,500 $58,500