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.] Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $16 par value, 12,900 shares authorized. During the year, the following selected transactions were completed: a. Sold 5,700 shares of common stock for cash at $32 per share. b. Sold 1,200 shares of common stock for cash at $37 per share. c. At year-end, the accounts reflected income 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 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. Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for...
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.) 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...
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...
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...
hiiii, can someone please help me with accounting ??? Required information E11-2 Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [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...
Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $10 par value, 13,400 shares authorized. During the year, the following selected transactions were completed: a. Sold 6,400 shares of common stock for cash at $20 per share. b. Sold 2,800 shares of common stock for cash at $25 per share. C. At year-end, the accounts reflected income of $6,300. No dividends were declared. 2. Prepare the stockholders' equity section...
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...