A-cells wireless needed additional capital to expand, so the business Inc. The charter from the state of Georgia authorizes a cell to issue 110,000 shares of 10%, $50 par value cumulative preferred stock at 130,000 shares of two dollars per value common stock. During the first month, A-cell completed the following transactions:

Requirement:

1: record the transactions in the general journal.

2: prepare the stockholders equity section A-cells balance sheet at October 31, 2016. Assume A-Cells net income for the month was $91,000

Homework: Week Eight: Chapter 12: Problems Score: 0 of 1 pt P13-43B (similar to par value common stock. During the first month, A-Cell completed the following transaclions: 2. Propare the stockholdens' equity section of A-Cell's balance sheet at October 31, 2016. Assume A- Celf's net income for the month was $91,000 Raquirement 1. Record the transaclions in the general journal Record dobits frs, then c credts. Select the expianation on the last line of the journal entry table.) More Info Date Debit Oct. 2 a $17,000 cash dividend for stockholders of record on Oct 20. Use a separate Dividends Payable account for preferred and common stock Print Done