Required information
CPAlgo Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance, Purchase, and Reissuance Transactions LO
Skip to question
The following information applies to the questions displayed below.
Worldwide Company obtained a charter from the state in January that authorized shares of common stock, $ par value. During the first year, the company earned $ and declared no dividends; the following selected transactions occurred in the order given:
Issued shares of the common stock at $ cash per share.
Reacquired shares at $ cash per share from stockholders; the shares are now held in treasury.
Reissued of the shares in transaction b two months later at $ cash per share.
CPAlgo Part
Required:
Indicate the account, amount, and direction of the effect on above transaction. Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.
