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What the journal entry will include a credit to

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Problem 1: ABC Co. acquired equipment from XYZ, Inc. by issuing 2,000 of its ?10 par value ordinary shares. The equipment is carried in the books of XYZ, Inc. at ?25,000. ABC Co.'s shares have a fair value ?14 per share. The fair value of the equipment is ?32,000. The journal entry will include a credit to:

a) Share premium of 12,000
b) Share premium of 20,000
c) Share premium of 2,000
d) Share capital of 12,000

Reference no: EM132765802

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