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  3. incentive corporation was authorized to issue 12,0

Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2...

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Accounting

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 5,500 shares of common stock for cash at $20 per share.
b. Issued 1,500 shares of commn stock for cash at $23 per share.
Required:
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.)
\table[[,Assets,=,Liabilities,+,Stockholders' Ec],[a.,,=,,+,],[a.1,,=,,+,],[b.,,=,,+,],[b.1,,=,-,+,]]
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