Cheyenne Corp. had the following transactions. 1. Sold land (cost $7,440) for $9,300. 2. Issued common stock at par for $20,500. 3. Recorded depreciation on buildings for $13,600. 4. Paid salaries of $6,600. 5. Issued 1,100 shares of $1 par value common stock for equipment worth $8,800. 6. Sold equipment (cost $14,100, accumulated depreciation $9,870) for $1,692. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Cheyenne Corp. had the following transactions. 1. Sold land (cost $7,440) for $9,300. 2. Issued common stock at par for $20,500. 3. Recorded depreciation on buildings for $13,600. 4. Paid salaries of $6,600. 5. Issued 1,100 shares of $1 par value common stock for equipment worth $8,800. 6. Sold equipment (cost $14,100, accumulated depreciation $9,870) for $1,692. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Name: No. Account Titles and ExplanationDebitCredit1.2.3.4.5.6. Cheyenne Co
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Description: No. Account Titles and ExplanationDebitCredit1.2.3.4.5.6. Cheyenne Corp. had the following transactions.1.Sold land (cost $7,440) for $9,300.2.Issued common stock at par for $20,500.3.Recorded depreciation on buildings for $13,600.4.Paid salaries of

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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