Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized...
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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 $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,100 shares of common stock for cash at $21 per share. b. Issued 2,100 shares of common stock for cash at $24 per share. Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.)
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