Exercise 15-18 (Part Level Submission) Cheyenne Company reported the following amounts in the stockholders' equity section of its December 31, 2016 balance sheet. Common stock, $5 par (103,500 shares authorized, 20,700 shares issued) Additional paid-in capital Retained earnings Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 103,500 114,000 423,000 $820,500 Total During 2017, Cheyenne took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2016. 2. Purchased 1,500 shares of its own outstanding common stock for $43 per share. Cheyenne uses the cost method. 3. Reissued 600 treasury shares for land valued at $27,100. 4. Issued 550 shares of preferred stock at $105 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $41 per share. 6. Issued the stock dividend. 7. Declared the annual 2017 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2018. Stockholders' Equity For the Year Ended December 31, 2017 Current Liabilities 235,000.00 Preferred Stock 113850 Common Stock 348,850.00 Additional Paid-in Capital 192,570.00 Capital Stock 541,420.00 Retained Earnings 269,090.00 Stockholders Equity Less v Treasury Stock 810,510.00 38,700.00 Total Stockholders' Equity 771,810.00 vacy Policy. y & Sons. Inc. All Rights Reserverd to search Exercise 15-18 (Part Level Submission) Cheyenne Company reported the following amounts in the stockholders' equity section of its December 31, 2016 balance sheet. Common stock, $5 par (103,500 shares authorized, 20,700 shares issued) Additional paid-in capital Retained earnings Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 103,500 114,000 423,000 $820,500 Total During 2017, Cheyenne took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2016. 2. Purchased 1,500 shares of its own outstanding common stock for $43 per share. Cheyenne uses the cost method. 3. Reissued 600 treasury shares for land valued at $27,100. 4. Issued 550 shares of preferred stock at $105 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $41 per share. 6. Issued the stock dividend. 7. Declared the annual 2017 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2018. Stockholders' Equity For the Year Ended December 31, 2017 Current Liabilities 235,000.00 Preferred Stock 113850 Common Stock 348,850.00 Additional Paid-in Capital 192,570.00 Capital Stock 541,420.00 Retained Earnings 269,090.00 Stockholders Equity Less v Treasury Stock 810,510.00 38,700.00 Total Stockholders' Equity 771,810.00 vacy Policy. y & Sons. Inc. All Rights Reserverd to search
