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Required information E 1 1 - 2 ( Algo ) Reporting Stockholders' Equity and Determining Dividend Policy [ LO 1 1 - 2 , LO

Required information
E11-2(Algo) 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 5,100 shares of common stock for cash at $21 per share.
b. Issued 1,100 shares of common stock for cash at $24 per share.
E11-2(Algo) Part 1
Required:
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.)
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