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CP11-1 Analyzing Accounting Equation Effects, Recording Journal Entries and Preparing a Partial Balance Sheet Involving Stock issuance, Purchase, and Reissuance Transactions CLO 11-2] IThe following
CP11-1 Analyzing Accounting Equation Effects, Recording Journal Entries and Preparing a Partial Balance Sheet Involving Stock issuance, Purchase, and Reissuance Transactions CLO 11-2] IThe 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 $38,800 and the following selected transactions occurred in the order given: a. Issued 66,000 shares of the common stock at $12 cash per share. b. Reacquired 2,600 shares at $15 cash per share from stockholders; the shares are now held in treasury. c. Reissued 1,300 of the shares in transaction (by two months later at $18 cash per share
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