Question

A B and C please

8 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 $37,700, declared no dividends and the following selected transactions occurred in the order given: Com Part 2 of 10 points a. Issued 55,000 shares of the common stock at $12 cash per share. b. Reacquired 1,500 shares at $15 cash per share from stockholders; the shares are now held in treasury c. Reissued 750 of the shares in transaction (b) two months later at $18 cash per share. eBook e 2. Prepare journal entries to record each transaction. of no entry is required for a transaction/event, select "No Print Journal Entry Required" in the first account field.) View transaction list Reference Journal entry worksheet Record the issuance of 55,000 shares of common stock with a par value $10 for a price of $12 per share. Note: Enter debits before credits. しDebit 1 Transactionー-General Journal View general journal Record entry Clear entry

Answer 1

Journal Entries Date Account Title and Explaination Post. Debit Credit Ref a Cash (55000 x S12) S660,000.00 Common Stock (55000 x S 10) $550,000.00 Paid in Capital in Excess of Par-Common Stock (55000 x (S12-S10) S110,000.00 To record issue of Common Stock for Cash bTreasury Stock (1500 x S15) S22,500.00 Cash S22,500.00 To record re equisition of Common Stock) c Cash (750 x S18) $13,500.00 Treasury Stock (750 x S15) Additional Paid In Capital - Treasury Stock $11,250.00 S2,250.00 To record Re Issue of Treasury Stock)