Question

Required information The following information applies to the questions displayed below.) Part 3 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: 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 from stockholders; the shares are now held in treasury. c. Reissued 1.350 of the shares in transaction (b) two months later at $17 cash per share. eBook Print 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.) References WORLDWIDE COMPANY Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total Total Stockholders' Equity

Answer 1

WORLDWIDE COMPANY
Balance Sheet(Partial)
At December 31
Stockholders Equity
Contributed Capital:
Common stock,$10 par 200,000 authorized,67,000 issued,133,000 outsatnding	$6,70,000
Paid in capital in excess of par($67,000+$4,050)	$71,050
Paid in capital from Tresaury stock	$4,050
Total Contributed capital	$7,45,100
Reatained earnings	$38,900
Subtotal	$7,84,000
Less:Treasury stock @$14 per share	-$18,900
Total Stockholders Equity	$7,65,100