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Required information CP 1 1 - 1 ( Algo ) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock

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 $37,800 and declared no dividends; the following selected
transactions occurred in the order given:
a. Issued 56,000 shares of the common stock at $13 cash per share.
b. Reacquired 1,600 shares at $16 cash per share from stockholders; the shares are now held in treasury.
c. Reissued 800 of the shares in transaction (b) two months later at $19 cash per share.
CP11-1(Algo) Part 1
Required:
Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Liabilities and
Stockholders' Equity with a minus sign.)
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