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 $37,200, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 50,000 shares of the common stock at $13 cash per share. b. Reacquired 1,000 shares at $16 cash per share from stockholders; the shares are now held in treasury. c. Reissued 500 of the shares in transaction (b) two months later at $19 cash per share. Required: 1. Indicating the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) Assets Liabilities es Stockholders' Equity a. Issued 50,000 shares of the common stock at $13 cash per share. b. Reacquired 1,000 shares at $16 cash per share from stockholders; the shares are now held in treasury. c. Reissued 500 of the shares in transaction (b) two months later at $19 cash per share. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry equired" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the issuance of 50,000 shares of common stock with a par value $10 for a price of $13 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a. issued 50,000 snares of the common stock at $13 casn per snare. b. Reacquired 1,000 shares at $16 cash per share from stockholders; the shares are now held in treasury. c. Reissued 500 of the shares in transaction (b) two months later at $19 cash per share. 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