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Can someone help me fill these as soon as possible? I've been so busy with many other things, thank you so much! PS: It's one
Can someone help me fill these as soon as possible? I've been so busy with many other things, thank you so much!
PS: It's one problem, but different requirements
Required information E11-2 Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,100 shares of common stock for cash at $21 per share. b. Issued 2,100 shares of common stock for cash at $24 per share. E11-2 Part 1 Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.) Liabilities Stockholders' Equity Assets a. b. Requlred Information E11-2 Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following Information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,100 shares of common stock for cash at $21 per share. b. Issued 2,100 shares of common stock for cash at $24 per share. E11-2 Part 2 2. Prepare the journal entry required for each of these transactions. (If no entry Is requlred for a transaction/event, select "No Journal Entry Requlred" In the first account fleld.) View transaction list Journal entry worksheet Record the issuance of 6,100 shares of common stock with a par value $2 for a price of $21 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Requlred Information E11-2 Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following Information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,100 shares of common stock for cash at $21 per share. b. Issued 2,100 shares of common stock for cash at $24 per share. E11-2 Part 3 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. At year- end, the accounts reflected net income of $200. INCENTIVE CORPORATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total Stockholders' Equity Requlred Informatlon E11-2 Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During Its first year, the following selected transactions were completed: a. Issued 6,100 shares of common stock for cash at $21 per share. b. Issued 2,100 shares of common stock for cash at $24 per share. E11-2 Part 4 4. Incentive Corporation has $31,000 in the company's bank account. At year-end, the accounts reflected a profit of $200. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividendsStep by Step Solution
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