Nebraska inc. issues 3,000 shares of common stock for $45,000. the stock has a stated value of $10 per share. the journal entry to record the stock issuance would include a credit to common stock for

a. $15,000
b. $3,000
c. $30,000
d. $45,000

c. $30,000

Explanation:

The journal entry to record the issuance of common stock is shown below:

Cash A/c Dr $45000        ($3,000 × $15)

    To Common Stock $30,000          ($3,000 × $10)

    To  Additional Paid-in Capital in excess of par - Common Stock $15,000

(Being the issuance of stock is recorded and the remaining balance is credited to the additional paid-in capital account)

While issuing the stock, we debited the cash account and credited the common stock and additional paid-in capital account

answer; test-retest;