BUSI 1A Sec 8342 Sum 20 Financial Actg. ONLINE eyad zahra & | 07/23/20 10:23 PM Homework: Chapter 12&13 homework Save Score: 0 of 1 pt 14 of 14 (8 complete) HW Score: 50.36%, 7.05 of 14 pts P13-41A (similar to) Question Help B-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B - Mobile to issue 120,000 shares of 8%, $50 par value cumulative preferred stock and 160,000 shares of S2 par value common stock. During the first month, B - Mobile completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the general journal (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Oct. 2: Issued 22,000 shares of common stock for a building with a market value of $140,000 Date Accounts and Explanation Debit Credit Oct. 2 29 Choose from any list or enter any number in the input fields and then click Check Answer ginage incarnated the chadan.com the state of Catharsza i More Info Oct. 2 Oct. 6 Oct. 9 Issued 22,000 shares of common stock for a building with a market value of $140,000. Issued 1,000 shares of preferred stock for $100 per share. Issued 17,000 shares of common stock for cash of $85,000. Declared a $18,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Paid the cash dividend. Oct. 10 Oct. 25 Assume B - Mobile's net income for the month was $96,000. Print Done - Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of B-Mobile's balance sheet at October 31, 2018. Assume B-Mobile's net income for the month was $96,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) Print Done