Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
HELP PLEASEEEE On January 1, 2022, Cheyenne Corp. had the following stockholders' equity balances. During 2022, the following transactions and events occurred. 1. Issued 52,600
HELP PLEASEEEE On January 1, 2022, Cheyenne Corp. had the following stockholders' equity balances. During 2022, the following transactions and events occurred. 1. Issued 52,600 shares of $3 par value common stock as a result of 10% stock dividend declared on December 15.2021. 2. Issued 29,000 shares of common stock for cash at $6 per share. 3. Purchased 20.000 shares of common stock for the treasury at $7 per share. 4. Declared and paid a cash dividend of $116,000. 5. Sold 7,800 shares of treasury stock for cash at $7 per share. b. Earned net income of $324,000 Balances, Jan. 1 Issued 52,600 share for stock dividend Issued 29,000 shares for cash Purchased 20,000 shares of treasury stock Declared cash dividend Sold 7,800 shares of treasury stock Net income for year Balances, Dec, 31 eTextbook and Media Common Stock Retained Dividends Treasury Stock Total Distributable $ $ $ Cheyenne Corp. Stockholders' Equity Statement Paid-in
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started