Required information CP11-1 (Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance...

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Required information CP11-1 (Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance, Purchase, and Reissuance Transactions [LO 11-2] [The following information applies to the questions displayed below] Worldwide Company obtained a charter from the state in January that authorized 200,000 shares of common stock, $10 par value. During the first year, the company earned $39,100 and declared no dividends; the following selected transactions occurred in the order given: a Issued 69,000 shares of the common stock at $12 cash per share. b. Reacquired 2,900 shares at $15 cash per share from stockholders; the shares are now held in treasury. c. Reissued 1,450 of the shares in transaction (b) two months later at $18 cash per share. CP11-1 (Algo) Part 3 3. Prepare the stockholders' equity section of the balance sheet at December 31, TIP: Because this is the first year of operations, Retained Earnings has a zero balance at the beginning of the year. (Amounts to be deducted should be indicated by a minus sign.) CP11-1 (Algo) Part 3 3. Prepare the stockholders' equity section of the balance sheet at December 31. TIP: Because this is the first year of operations, Retained Earnings has a zero balance at the beginning of the year. (Amounts to be deducted should be indicated by a minus sign.) Contributed Capital Common Stock WORLDWIDE COMPANY Balance Sheet (Partial) At December 31. Stockholders' Equity $ 690.000 138,000 Additional Paid-In Capital, Common Stock Total Contributed Capital 828,000 Retained Earnings 39,100 Total 867.100 Less Treasury Stock, at Cost (21.750) Total Stockholders' Equity S 845,350 Required information CP11-1 (Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance, Purchase, and Reissuance Transactions [LO 11-2] [The following information applies to the questions displayed below] Worldwide Company obtained a charter from the state in January that authorized 200,000 shares of common stock, $10 par value. During the first year, the company earned $39,100 and declared no dividends; the following selected transactions occurred in the order given: a Issued 69,000 shares of the common stock at $12 cash per share. b. Reacquired 2,900 shares at $15 cash per share from stockholders; the shares are now held in treasury. c. Reissued 1,450 of the shares in transaction (b) two months later at $18 cash per share. CP11-1 (Algo) Part 3 3. Prepare the stockholders' equity section of the balance sheet at December 31, TIP: Because this is the first year of operations, Retained Earnings has a zero balance at the beginning of the year. (Amounts to be deducted should be indicated by a minus sign.) CP11-1 (Algo) Part 3 3. Prepare the stockholders' equity section of the balance sheet at December 31. TIP: Because this is the first year of operations, Retained Earnings has a zero balance at the beginning of the year. (Amounts to be deducted should be indicated by a minus sign.) Contributed Capital Common Stock WORLDWIDE COMPANY Balance Sheet (Partial) At December 31. Stockholders' Equity $ 690.000 138,000 Additional Paid-In Capital, Common Stock Total Contributed Capital 828,000 Retained Earnings 39,100 Total 867.100 Less Treasury Stock, at Cost (21.750) Total Stockholders' Equity S 845,350