Worldwide Company obtained a charter from the state in January 2013, which autho

Question

Worldwide Company obtained a charter from the state in January 2013, which authorized 200,000 shares of common stock, $10 par value. During the first year, the company earned $38,000 and the following selected transactions occurred in the order given:

Indicating the account, amount, and direction of the effect (+ for increase and ? for decrease) for the above transaction.

2. Prepare journal entries to record each transaction.

Prepare the stockholders

Worldwide Company obtained a charter from the state in January 2013, which authorized 200,000 shares of common stock, $10 par value. During the first year, the company earned $38,000 and the following selected transactions occurred in the order given:

Explanation / Answer

closing as there is no answer

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