Cheyenne Corp. was organized on January 1, 2017. It is authorized to issue 21,000 shares of 7%, $53 par value preferred stock and 454,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.Jan.10 Issued 67,000 shares of common stock for cash at $4 per share.Mar.1 Issued 1,140 shares of preferred stock for cash at $56 per share.May1 Issued 112,000 shares of common stock for cash at $7 per share.Sept.1 Issued 4,400 shares of common stock for cash at $8 per share.Nov.1 Issued 2,400 shares of preferred stock for cash at $56 per share. Prepare the paid-in capital portion of the stockholders’ equity section at December 31, 2017.CHEYENNE CORP.Partial Balance Sheetchoose the accounting period December 31, 2017For the Month Ended December 31, 2017For the Year Ended December 31, 2017select an opening section name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital      select an opening subsection name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital      select a name of the subordinate part one of this subsection Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital      enter a balance sheet item   $enter a dollar amount    enter a balance sheet item   enter a dollar amount    select a summarizing line for the subordinate part one of this subsection    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Additional Paid-in Capital    Paid-in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    Total Stockholders’ Equity    Total Additional Paid-in Capital        $enter a subtotal of the two previous amounts  select a name of the subordinate part two of this subsection Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital      enter a balance sheet item   enter a dollar amount    enter a balance sheet item   enter a dollar amount    select a summarizing line for the subordinate part two of this subsection    Current Assets    Current Liabilities    Intangible Assets    Long-l Long-term Investments    Total Long-term Liabilities    Total Property, Plant and tal Stockholders’ Equity    Total Additional Paid-in Capital        enter a subtotal of the two previous amounts     in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    Total Stockholders’ Equity    Total Additional Paid-in Capital        $enter a total amount for this subsection

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Asked Apr 30, 2019
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Cheyenne Corp. was organized on January 1, 2017. It is authorized to issue 21,000 shares of 7%, $53 par value preferred stock and 454,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.

Jan. 10   Issued 67,000 shares of common stock for cash at $4 per share.
Mar. 1   Issued 1,140 shares of preferred stock for cash at $56 per share.
May 1   Issued 112,000 shares of common stock for cash at $7 per share.
Sept. 1   Issued 4,400 shares of common stock for cash at $8 per share.
Nov. 1  

Issued 2,400 shares of preferred stock for cash at $56 per share.

 

Prepare the paid-in capital portion of the stockholders’ equity section at December 31, 2017.

CHEYENNE CORP.
Partial Balance Sheet
choose the accounting period
 December 31, 2017For the Month Ended December 31, 2017For the Year Ended December 31, 2017
select an opening section name
 Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital
           
select an opening subsection name
 Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital
           
select a name of the subordinate part one of this subsection
 Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital
           
enter a balance sheet item
 
   
$enter a dollar amount
 
     
enter a balance sheet item
 
   
enter a dollar amount
 
     
select a summarizing line for the subordinate part one of this subsection
    Current Assets    Current Liabilities    Intangible Assets    Long-term Investments    Long-term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Assets    Total Current Liabilities    Total Intangible Assets    Total Liabilities    Total Liabilities and Stockholders' Equity    Total Long-term Investments    Total Long-term Liabilities    Total Property, Plant and Equipment    Additional Paid-in Capital    Paid-in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    Total Stockholders’ Equity    Total Additional Paid-in Capital    
   
 
 
$enter a subtotal of the two previous amounts
 
 
select a name of the subordinate part two of this subsection
 Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders’ EquityTotal Additional Paid-in Capital
           
enter a balance sheet item
 
 
 
enter a dollar amount
 
 
 
 
enter a balance sheet item
 
 
 
enter a dollar amount
 
 
 
 
select a summarizing line for the subordinate part two of this subsection
    Current Assets    Current Liabilities    Intangible Assets    Long-l Long-term Investments    Total Long-term Liabilities    Total Property, Plant and tal Stockholders’ Equity    Total Additional Paid-in Capital    
       
enter a subtotal of the two previous amounts
 
 
   in Capital    Capital Stock    Total Capital Stock    Total Paid-in Capital    Total Paid-in Capital and Retained Earnings    Total Stockholders’ Equity    Total Additional Paid-in Capital    
       
$enter a total amount for this subsection
 
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Step 1

To get the balance of paid in capital, let us first put in the journal entries.

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