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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
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 $39,100, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 69,000 shares of the common stock at $12 cash per share. b. Reacquired 2,900 shares at $15 cash per share from stockholders; the shares are now held in treasury. C. Reissued 1,450 of the shares in transaction (b) two months later at $18 cash per share. 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of 2,900 shares of previously issued common stock for a price of $15 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit b Record entry Clear entry View general journal Journal entry worksheet Record the re-issuance of 1,450 shares of treasury stock previously purchased for a price of $15 per share and sold for $18 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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