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Required information [The foiowing information applies to the questions alsplayed below.] Incentwe Corporation was authorized to issue 12,000 shares of common stock, each with a

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Required information [The foiowing information applies to the questions alsplayed below.] Incentwe Corporation was authorized to issue 12,000 shares of common stock, each with a 51 par value. During ins first year, the following selected transactions were completed a. 1ssued 5,300 shares of common stock for cash at 523 per share. b. issued 1300 shares of common siock for cash of $26 per share Requited: 1. 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.) Required information [The following information applies to the questions displayed below] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 5,300 shares of common stock for cash at $23 per share. b. Issued 1,300 shares of common stock for cash at $26 per share. 2. Prepare the journal entry required for each of these transactions, (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Journal entry worksheet Record the issuance of 5,300 shares of comman stock with a par value $1 for a price of $23 per share. Nosti. Enter debits before sresits. Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to Issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 5,300 shares of common stock for cash at $23 per share. b. Issued 1,300 shares of common stock for cash at $26 per share. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected a profit of $300

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