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Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1...

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Accounting

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: b. a. Issued 5,400 shares of common stock for cash at $24 per share. b. Issued 1,400 shares of common stock for cash at $27 per share. Assets """" Liabilities + + + + Stockholders' Equity
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Required information The following information applies to the questions displayed belowj) 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 5,400 shares of common stock for cash at $24 per share. b. Issued 1,400 shares of common stock for cash at $27 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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