This is all one question. Already have the first part done (which is included)
On January 1, 2019, Cheyenne Corp. had the following stockholders' equity accounts. Common Stock ($12 par value, 83,800 shares issued and outstanding) $1,005,600 Paid-in Capital in Excess of Par Value-Common Stock 201,000 Retained Earnings 566,000 During the year, the following transactions occurred. Declared a $1.12 cash dividend per share to stockholders of record on January 31, payable February 15 Jan. 15 Feb. 15 Paid the dividend declared in January. Declared a 5% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share. Apr. 15 Issued the shares for the stock dividend May 15 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $14. (The new par value is $6.) July 1 Declared a $0.90 per share cash dividend to stockholders of record on December 15, payable January 10, 2020. Dec. 1 Dec. 31 Determined that net income for the year was $240,000. Journalize the transactions and the closing entries for net income and dividends. (Record journal entries i indented when the amount is entered. Do not indent manually. If no entry is required, select "No Account Titles and Explanation Credit Debit Date Jan. 15 Cash Dividends 93856 Dividends Payable 93856 Feb. 15 Dividends Payable 93856 Cash 93856 Apr. 15 Common Stock Dividends Distributable 62850 Common Stock 50280 Paid-in Capital in Excess of Par-Common Stock 12570 May 15 Stock Dividends 62850 Common Stock Dividends Distributable 62850 No Entry July 1 No Entry Dec. 1 Cash Dividends 158382 Dividends Payable 158382 Dec. 31 Retained Earnings 252238 Cash Dividends 252238 (To close cash dividends) Dec. 31 Retained Earnings 62850 Stock Dividends 62850 (To close stock dividends) Dec. 31 Income Summary 240000 Retained Earnings 240000 (To close net income) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) presented in the previous question.) Common Stock Explanation Debit Balance Date Ref. Credit V Balance Common Stock Dividends Distributable Date Explanation Ref. Debit Credit Balance Paid-in Capital in Excess of Par Value-Common Stock Explanation Ref. Debit Credit Balance Date Balance Retained Earnings Explanation Ref. Debit Credit Balance Date Balance Cash dividends Stock dividends Net income Cash Dividends Debit Credit Balance Date Explanation Ref. Stock Dividends Date Explanation Ref. Debit Credit Balance Prepare a stockholders' equity section at December 31, 2019. (Enter the account name only and do not provide the descriptive information provided in the question.) Cheyenne Corp. Balance Sheet (Partial) A On January 1, 2019, Cheyenne Corp. had the following stockholders' equity accounts. Common Stock ($12 par value, 83,800 shares issued and outstanding) $1,005,600 Paid-in Capital in Excess of Par Value-Common Stock 201,000 Retained Earnings 566,000 During the year, the following transactions occurred. Declared a $1.12 cash dividend per share to stockholders of record on January 31, payable February 15 Jan. 15 Feb. 15 Paid the dividend declared in January. Declared a 5% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share. Apr. 15 Issued the shares for the stock dividend May 15 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $14. (The new par value is $6.) July 1 Declared a $0.90 per share cash dividend to stockholders of record on December 15, payable January 10, 2020. Dec. 1 Dec. 31 Determined that net income for the year was $240,000. Journalize the transactions and the closing entries for net income and dividends. (Record journal entries i indented when the amount is entered. Do not indent manually. If no entry is required, select "No Account Titles and Explanation Credit Debit Date Jan. 15 Cash Dividends 93856 Dividends Payable 93856 Feb. 15 Dividends Payable 93856 Cash 93856 Apr. 15 Common Stock Dividends Distributable 62850 Common Stock 50280 Paid-in Capital in Excess of Par-Common Stock 12570 May 15 Stock Dividends 62850 Common Stock Dividends Distributable 62850 No Entry July 1 No Entry Dec. 1 Cash Dividends 158382 Dividends Payable 158382 Dec. 31 Retained Earnings 252238 Cash Dividends 252238 (To close cash dividends) Dec. 31 Retained Earnings 62850 Stock Dividends 62850 (To close stock dividends) Dec. 31 Income Summary 240000 Retained Earnings 240000 (To close net income) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) presented in the previous question.) Common Stock Explanation Debit Balance Date Ref. Credit V Balance Common Stock Dividends Distributable Date Explanation Ref. Debit Credit Balance Paid-in Capital in Excess of Par Value-Common Stock Explanation Ref. Debit Credit Balance Date Balance Retained Earnings Explanation Ref. Debit Credit Balance Date Balance Cash dividends Stock dividends Net income Cash Dividends Debit Credit Balance Date Explanation Ref. Stock Dividends Date Explanation Ref. Debit Credit Balance Prepare a stockholders' equity section at December 31, 2019. (Enter the account name only and do not provide the descriptive information provided in the question.) Cheyenne Corp. Balance Sheet (Partial) A
