Question 30:

A company issues 2,000 shares of common stock at $30 per share.

Requirements:

1. Record the journal entry to recognize the issuance of common stock.

2. Post the journal entry to the Common Stock account in the ledger.

3. Calculate the total amount of proceeds received from the issuance.

4. Analyze how this transaction affects the company's equity.

5. Discuss the implications of issuing common stock for the company's ownership structure.