On May 10, Cheyenne Corp. issues 1,400 shares of $5 par value common stock for cash...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On May 10, Cheyenne Corp. issues 1,400 shares of $5 par value common stock for cash at $15 per share. Journalize the issuance of the stock. (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.) Date Account Titles and Explanation May 10 Cash Preferred Stock Paid-in Capital in Excess of Par Value-Common Stock Debit Credit On May 10, Cheyenne Corp. issues 1,400 shares of $5 par value common stock for cash at $15 per share. Journalize the issuance of the stock. (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.) Date Account Titles and Explanation May 10 Cash Preferred Stock Paid-in Capital in Excess of Par Value-Common Stock Debit Credit
Expert Answer:
Answer rating: 100% (QA)
On May 10 Cheyenne Corp issued 1400 shares of 5 par value common stock for cash ... View the full answer
Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
Students also viewed these accounting questions
-
From the trial balance and the information that follows prepare annual adjusting entries Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is...
-
Skysong, Inc. owns equipment that cost $124,000 and has a useful life of 10 years with no salvage value on January 1, 2017, skysong leases the equipment to Morgan corporation for one year with one...
-
A statistical program is recommended. Consider the following data for a dependent variable y and two independent variables, X and x. x1 30 47 25 51 x2 y 12 94 10 108 59 17 112 16 178 40 5 94 51 19 +...
-
Given a shaky economy and high heating costs, more and more households are struggling to pay utility bills (The Wall Street Journal, February, 14, 2008). Particularly hard hit are households with...
-
If production is more or less than the standard volume, is it possible that no controllable or volume variances would exist? Explain.
-
If you need a total of 25 participants in a 4 4 factorial study and there are 25 participants in one of the cells, what kind of design is this?
-
Define a sequence of correlated random numbers \[ s_{k}=\alpha s_{k-1}+(1-\alpha) r_{k} \] where \(r_{k}\) is a unit-variance, uncorrelated, Gaussian pseudorandom number while \(0
-
Special Revenue Fund, Voluntary Nonexchange Transactions. The City of Eldon applied for a competitive grant from the state government for park improvements such as upgrading hiking trails and bike...
-
Bryson College is a highly politicized organization (Table 3.7). What changes in the organization of the college would be necessary for Bryson to become a professionalized organization? A...
-
If the Bowie plant is sold, those operations will need to shift to the main Largo facility. The CEO is proposing to acquire robotics-based sorting and distribution equipment to facilitate more...
-
8.How would the differential tax incidence of replacing an income tax with a lump-sum tax be determined?
-
Why is a sole proprietorship the simplest form of business?
-
What important provisions should mortgage documents contain?
-
How does federal law protect investors in securities?
-
Federal disclosure requirements apply only to the written materials provided by a mortgage lender. (True/False)
-
Employers that do not accommodate the needs of persons with disabilities must demonstrate that the accommodations would cause undue hardship. (True/False)
-
For a normal distribution, a negative value of z indicates the z is to the right of the mean a mistake has been made in computations, because z is always positive. the area corresponding to the z is...
-
a) Show that (a, b) := {{a}, {b}} does not satisfy the ordered pair axiom. b) Determine whether each of the following statements is true or false. (Give a reason in each case): (i) {a, b} C (a, b)....
-
Calculate the earnings per share of common stock for each year. Canna, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets 124540 135750 55705 315995 112250 Cash...
-
On July 5, 2019, Clear Lake Company purchased a site for its new headquarters for $212,500. At a cost of $20,000, it razed two existing houses, with a total appraised value of $47,500, and received...
-
On May 1, 2019, Stanley Carpenter and Fred Kenamond formed The Wine Shop. The two partners invested cash and other assets and liabilities with the following agreed-upon values: Carpenter: Cash,...
-
Determine whether each of the following items is an: (a) Cash (b) Dividend to shareholders (c) Land (d) Accounts payable (e) Capital stock (f) Notes payable (g) Accounts receivable (h) Salaries (i)...
-
Assuming the expectations theory is the correct theory of the term structure, calculate the interest rates in the term structure for maturities of one to four years, and plot the resulting yield...
-
Assuming the expectations theory is the correct theory of the term structure, calculate the interest rates in the term structure for maturities of one to four years, and plot the resulting yield...
Study smarter with the SolutionInn App