Question 5

2 part question

and

Required information [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 $38,200 and declared no dividends; the following selected transactions occurred in the order given: a. Issued 60,000 shares of the common stock at $12 cash per share. b. Reacquired 2,000 shares at $15 cash per share from stockholders; the shares are now held in treasury. c. Reissued 1,000 of the shares in transaction (b) two months later at $18 cash per share. -. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry equired" in the first account field.) Journal entry worksheet Record the purchase of 2,000 shares of previously issued common stock for a price of $15 per share. Note: Enter debits before credits. Journal entry worksheet Record the re-issuance of 1,000 shares of treasury stock previously purchased for a price of $15 per share and sold for $18 per share. Note: Enter debits before credits