4: P13-37A C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative preferred stock and 120,000 shares of $2 par value common stock. During the first month, C-Cell completed the following transactions. Assume C-Cell's net income for the month was $96,000. Transactions: YOU CAN Ss or piererred Stock for 70 per share. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000 10/10/2016 Declared a $16.000 cash dividend for stockholders of reco PREVIOUS 4 NEXT ? Assignment: This question has 3 requirements. Scroll down to review the requirements and ensure you from complete all requirements before submitting your work for grading. et Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal 0,000. PREVIOUS 4 NEXT ? om complete all requirements before submitting your work for grading. Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal entries, including the changes in each account. 3. Review the stockholders' equity section of C-Cell's balance sheet at October 31, 2016. 000. 3. Review the stockholders' equity section of C-Cell's balance sheet at October 31, 2016 Transactions: 10/02/2016 Issued 22,000 shares of common stock for a building with a market value of $120,000. 10/06/2016 Issued 900 shares of preferred stock for $70 per share. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock SAVE WORK Rese Resu SUBHEY WORK Transactions: 20/00/2010 prekura per anare 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. 10/25/2016 Paid the cash dividend. Problem 4: P13-37A C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative preferred stock and 120,000 shares of $2 par value common stock. During the first month, C-Cell completed the following transactions. Assume C-Cell's net income for the month was $95,000. complete all requirements before submitting your work for grading Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger (Explanations are not required) 2. Review each of the accounts in the General Ledger to see the results of posting the journali entries, including the changes in each account 3. Review the stockholders' equity section of C-Cell's balance sheet at October 31, 2016. Transactions: Fiores or preierico stock for 70 per share. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. 10/25/2016 Paid the cash dividend. BUSINESS REPORTS SAVE WORK RESET RESULTS SUBMIT WORK COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date 10/01/2016 Select an account Select an account Account Debit Credit