Question 3 of 6 - 4 View Policies Current Attempt in Progress Cheyenne Corp. is authorized to issue both preferred and common stock The par value of the preferred is $50, During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 21,200 shares for cash at $51 per share. July 1 Issued 31.800 shares for cash at $56 per share (a) Prepare a tabular summary to record the transactions. Include marginexplanations for the changes in revenues and expenses. (fa transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative for parentheses in front of the amount entered for the particular Asset. Liability or Equity Item that was reduced Liabilities Assets PIC in Excess of Com Common Stock Cash $ $ Feb. 1 $ July 1 e Textbook and Media Attempts: 0 of 3 used Submit Answer Sve for Later Question 3 of 6 -/4 15 View Policies Current Attempt in Progress Cheyenne Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock Feb. 1 Issued 21.200 shares for cash at $51 per share. July 1 Issued 31.800 shares for cash at $56 per share. (a) Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. Olfa transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place o negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity iter that was reduced.) Stockholders' Equity Paid-in-Capital PIC in Excess of Par Value Com. + PIC in Excess of Par Value Pref. Pref. Stock Revenue $ $ $ e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later Question 3 of 6 -/45 View Policies Current Attempt in Progress Cheyenne Corp. is authorized to issue both preferred and common stock The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock Issued 21.200 shares for cash at $51 per share. July 1 Issued 31,800 shares for cash at $56 per share Feb. 1 (a) Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. (fo transaction causes a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Equity Retained Earnings Revenue Expense Dividend S Interest expense Common stock Paid-in-capital in excess of common stock Pald-in-capital in excess of preferred stock Dividends Preferred stock e Textbook and Media Attempts:0 of 3 used Submit Answer Save for Later
