Pronghorn Corp. was organized on January 1, 2022. It is authorized to issue 19,800 shares of 7%, $50 par value preferred stock and 462,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.Jan.10 Issued 71,000 shares of common stock for cash at $5 per share.Mar.1 Issued 1,220 shares of preferred stock for cash at $56 per share.May1 Issued 116,000 shares of common stock for cash at $8 per share.Sept.1 Issued 5,200 shares of common stock for cash at $6 per share.Nov.1 Issued 3,200 shares of preferred stock for cash at $58 per share. Prepare the paid-in capital portion of the stockholders’ equity section at December 31, 2022.PRONGHORN CORP.Partial Balance Sheetchoose the accounting periodchoose the accounting period December 31, 2022For the Month Ended December 31, 2022For the Year Ended December 31, 2022select an opening section nameselect 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 nameselect 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 subsectionselect 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 itementer a balance sheet item $enter a dollar amount enter a dollar amount enter a balance sheet itementer a balance sheet item enter a dollar amountenter a dollar amount select a summarizing line for the subordinate part one of this subsectionselect a summarizing line for 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 subtotal of the two previous amounts enter a subtotal of the two previous amounts select a name of the subordinate part two of this subsectionselect a name of the subordinate part two of this subsection enter a balance sheet itementer a balance sheet item enter a dollar amountenter a dollar amount enter a balance sheet itementer a balance sheet item enter a dollar amountenter a dollar amount $enter a total amount for this subsection enter a total amount for this subsection

Any amount which is paid in excess of the face value of the stock needs to be credited to paid in…

Answered: Pronghorn Corp. was organized on…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 9EA: St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and...

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Question

Pronghorn Corp. was organized on January 1, 2022. It is authorized to issue 19,800 shares of 7%, $50 par value preferred stock and 462,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.

Jan.	10	Issued 71,000 shares of common stock for cash at $5 per share.
Mar.	1	Issued 1,220 shares of preferred stock for cash at $56 per share.
May	1	Issued 116,000 shares of common stock for cash at $8 per share.
Sept.	1	Issued 5,200 shares of common stock for cash at $6 per share.
Nov.	1	Issued 3,200 shares of preferred stock for cash at $58 per share.

Prepare the paid-in capital portion of the stockholders’ equity section at December 31, 2022.

PRONGHORN CORP. Partial Balance Sheet choose the accounting periodchoose the accounting period December 31, 2022For the Month Ended December 31, 2022For the Year Ended December 31, 2022
select an opening section nameselect 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 nameselect 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 subsectionselect 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 itementer a balance sheet item	$enter a dollar amount enter a dollar amount
enter a balance sheet itementer a balance sheet item	enter a dollar amountenter a dollar amount
select a summarizing line for the subordinate part one of this subsectionselect a summarizing line for 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 subtotal of the two previous amounts enter a subtotal of the two previous amounts
select a name of the subordinate part two of this subsectionselect a name of the subordinate part two of this subsection
enter a balance sheet itementer a balance sheet item	enter a dollar amountenter a dollar amount
enter a balance sheet itementer a balance sheet item	enter a dollar amountenter a dollar amount

		$enter a total amount for this subsection enter a total amount for this subsection

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