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Worldwide Company obtained a charter from the state in January that authorized 200,000 shares of...

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Accounting

Worldwide Company obtained a charter from the state in January that authorized 200,000 shares of common stock, $10 par value. During the first year, the company earned $37,400, declared no dividends, and the following selected transactions occurred in the order given:

  1. Issued 52,000 shares of the common stock at $12 cash per share.
  2. Reacquired 1,200 shares at $15 cash per share from stockholders; the shares are now held in treasury.
  3. Reissued 600 of the shares in transaction (b) two months later at $18 cash per share.

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