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 $37,800, declared no dividends, and the following selected transactions occurred in the order giver 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 (6) two months later at $19 cash per share. Required: 1. Indicating the account, amount, and direction of the effect on above transaction. Tenter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) Assets Liabilities Stock b 16 A Q G Search or type URL R N 3 $ 4 5 6 & 7 8 9 0 W m R T Y O S D F G H J L ction of the effect on above transaction (Enter any decreases to Assets, Liabilities and Liabilities Stockholders' Equity 16 sty 2 Q Search or type URL A $ 4 % 5 & 7 2 3 6 8 9 0 W E R T Y U 0 P S D E G H K 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 $37,800, declared no dividends, and the following selected transactions occurred in the order given a. Issued 56,000 shares of the common stock at $13 cash per share. D. 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. 2. Prepare journal entries to record cach transaction. ( 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 issuance of 56,000 shares of common stock with a par value $10 for a price of $13 per share. 16 sty A C G Search or type URL A #3 N 3 $ 4 & 7 6 > 0 5 6 8 9 W E R T Y U S D F G H J L mework Saved Help Save & Exit Required information Journal entry worksheet 16 QA 1 G Search or type URL @ % # 3 $ 4 & 7 2 5 6 8 9 0 W E R T Y 0 Required information Journal entry worksheet 3 16 AC SEL Required information Journal entry worksheet 16 stv A 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: Total Contributed Capital Total Total Stockholders' Equity
