![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Please do not give solution in image format thanku
![Cheyenne Corp. was organized on January 1, 2025. It is authorized to issue 21,000 shares of 7%, $50 par value preferred stock
and 454,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed
during the first year.
Issued 67,000 shares of common stock for cash at $5 per share.
Issued 15,000 shares of preferred stock for cash at $52 per share.
Issued 112,000 shares of common stock for cash at $7 per share.
May 1
Sept. 1
Issued 4,400 shares of common stock for cash at $6 per share.
Nov. 1 Issued 2,400 shares of preferred stock for cash at $55 per share.
Jan. 10
Mar. 1
Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the
amounts. List all debit entries before credit entries.)
Account Titles and Explanation
Date
Debit
Credit](https://content.bartleby.com/qna-images/question/3bcb37db-7c85-47bb-a190-afcc0c785246/703acdcd-731b-452a-bf04-28fee07a1aa6/ao8op1_thumbnail.png)
Transcribed Image Text:Cheyenne Corp. was organized on January 1, 2025. It is authorized to issue 21,000 shares of 7%, $50 par value preferred stock
and 454,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed
during the first year.
Issued 67,000 shares of common stock for cash at $5 per share.
Issued 15,000 shares of preferred stock for cash at $52 per share.
Issued 112,000 shares of common stock for cash at $7 per share.
May 1
Sept. 1
Issued 4,400 shares of common stock for cash at $6 per share.
Nov. 1 Issued 2,400 shares of preferred stock for cash at $55 per share.
Jan. 10
Mar. 1
Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the
amounts. List all debit entries before credit entries.)
Account Titles and Explanation
Date
Debit
Credit
![Post to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part.)
Preferred Stock
Paid-in Capital in Excess of Par-Preferred Stock
Common Stock
Paid-in Capital in Excess of Stated Value-Common Stock
Prepare the paid-in capital portion of tockholder 'eq section at December 31,
provide descriptive information.)
CHEYENNE CORP.
Partial Balance Sheet
$
(Enter account name only and do
$](https://content.bartleby.com/qna-images/question/3bcb37db-7c85-47bb-a190-afcc0c785246/703acdcd-731b-452a-bf04-28fee07a1aa6/dnuz2i6_thumbnail.jpeg)
Transcribed Image Text:Post to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part.)
Preferred Stock
Paid-in Capital in Excess of Par-Preferred Stock
Common Stock
Paid-in Capital in Excess of Stated Value-Common Stock
Prepare the paid-in capital portion of tockholder 'eq section at December 31,
provide descriptive information.)
CHEYENNE CORP.
Partial Balance Sheet
$
(Enter account name only and do
$
Expert Solution
![Check Mark](/static/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 4 steps
![Blurred answer](/static/blurred-answer.jpg)
Knowledge Booster
Similar questions
- 1. DOT MATRIX PRINTERS ARE NOT CONSIDERED AS DESKTOP PRINTERS. A. TRUE B. FALSEarrow_forwardWhich of the following QBO features can be used to save a transaction that will be re-used in the future? Multiple Choice Saved transactions (+) New icon Recurring transactions None of the choices is correct.arrow_forwardPlease don't use chat gpt and other ai other wise I give multiplie downvote Which of the following is sometimes called a currently attainable standard? O a. par b. normal standard O c. theoretical standard d. ideal standardarrow_forward
- Does a user view always require multiple tables to support it? Explain.arrow_forwardThe easiest way to change the order in a chart is in the __________. Multiple Choice underlying spreadsheet slicer chart options chart itselfarrow_forwardInformation that is reported free from error ________.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
![Text book image](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
![Text book image](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
![Text book image](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education