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Required information CP11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance, Purchase, and Reissuance Transactions [LO 11-2]

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Required information CP11-1 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 $38,700, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 65,000 shares of the common stock at $13 cash per share. b. Reacquired 2,500 shares at $16 cash per share from stockholders, the shares are now held in treasury. C. Reissued 1,250 of the shares in transaction (b) two months later at $19 cash per share. CP11-1 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.) WORLDWIDE COMPANY Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Common Stock Additional Pald-In Capital, Car Additional Paid-in Capital, Tr This is a numeric call, so please enter numbers only. Total Contributed Capital Retained Earnings Total Total Stockholders' Equity $ 0

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