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Homework Answers
| Assets | Liabilities | Stockholders' Equity | ||||
| a | Cash | 190400 | Common Stock | 6800 | ||
| Additional Paid-in Capital,Common Stock | 183600 | |||||
| b | Cash | 86800 | Common Stock | 2800 | ||
| Additional Paid-in Capital,Common Stock | 84000 | |||||
| Workings: | ||||||
| a | Cash | 190400 | =6800*28 | |||
| b | Cash | 86800 | =2800*31 | |||
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Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to...
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 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 4. Incentive Corporation has $38,000 in the company's bank account. At year-end, the accounts reflected a...
Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to...
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 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet....
Required information (The following information applies to the questions displayed below.) Incentive Corporation was authorized to...
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 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
Required information [The following information applies to the questions displayed below.) Incentive Corporation was authorized to...
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 6,000 shares of common stock for cash at $20 per share. b. Issued 2,000 shares of common stock for cash at $23 per share. 4. Incentive Corporation has $30,000 in the company's bank account. At year-end, the accounts reflected a...
The following information applies to the questions displayed below] Incentive Corporation was authorized to issue 12,000...
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 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. 4. Incentive Corporation has $44,000 in the company's bank account. At year-end, the accounts reflected a profit of...
Required information [The following information applies to the questions displayed below.] Incentive Corporation...
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 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
both parts please Required Information [The following information applies to the questions displayed below Incentive Corporation...
both parts please
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 5,600 shares of common stock for cash at $21 per share b. Issued 1,600 shares of common stock for cash at $24 per share 2. Prepare the journal entry required for each of these transactions. (It no...
Required information The following information applies to the questions displayed below) Worldwide Company obtained a charter...
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 $37,900, declared no dividends, and the following selected transactions occurred in the order glven: a. Issued 57.000 shares of the common stock at $11 cash per share. b. Reacquired 1,700 shares at $14 cash per share from stockholders; the shares are now...
Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par...
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 6,800 shares of common
stock for cash at $28 per share.
b.
Issued 2,800 shares of common
stock for cash at $31 per share.
E11-2 Part 1 Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account...
Required information The following information applies to the questions displayed below.) Part 1 of 3 Worldwide...
Required information The following information applies to the questions displayed below.) Part 1 of 3 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 $38.900, declared no dividends, and the following selected transactions occurred in the order given: 10 points a. Issued 67,000 shares of the common stock at $11 cash per share. b. Reacquired 2,700 shares at $14 cash per share...
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 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 4. Incentive Corporation has $38,000 in the company's bank account. At year-end, the accounts reflected a...
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 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet....
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 6,800 shares of common stock for cash at $28 per share. b. Issued 2,800 shares of common stock for cash at $31 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
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 6,000 shares of common stock for cash at $20 per share. b. Issued 2,000 shares of common stock for cash at $23 per share. 4. Incentive Corporation has $30,000 in the company's bank account. At year-end, the accounts reflected a...
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 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. 4. Incentive Corporation has $44,000 in the company's bank account. At year-end, the accounts reflected a profit of...
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 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required...
both parts please
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 5,600 shares of common stock for cash at $21 per share b. Issued 1,600 shares of common stock for cash at $24 per share 2. Prepare the journal entry required for each of these transactions. (It no...
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 $37,900, declared no dividends, and the following selected transactions occurred in the order glven: a. Issued 57.000 shares of the common stock at $11 cash per share. b. Reacquired 1,700 shares at $14 cash per share from stockholders; the shares are now...
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 6,800 shares of common
stock for cash at $28 per share.
b.
Issued 2,800 shares of common
stock for cash at $31 per share.
E11-2 Part 1 Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account...
Required information The following information applies to the questions displayed below.) Part 1 of 3 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 $38.900, declared no dividends, and the following selected transactions occurred in the order given: 10 points a. Issued 67,000 shares of the common stock at $11 cash per share. b. Reacquired 2,700 shares at $14 cash per share...
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