Question
Central Wireless, Inc. Needed additional capital to expand, so the business incorporated. The charter from the state of New Mexico authorizes Central Wireless, Inc. to
Central Wireless, Inc. Needed additional capital to expand, so the business incorporated. The charter from the state of New Mexico authorizes Central Wireless, Inc. to issue 130,000 shares of 8%, $70 par value cumulative preferred stock and 210,000 shares of $4 par value common stock. During the first month, Central Wireless, Inc. completed the following transactions: View the transactions. Assume Central Wireless, Inc.'s net income for the month was $95,000.
Prepare a statement of stockholders' equity for Central Wireless, Inc. for the month ended October 31, 2025.
The opening balances, which are all 0 for the first month of operations, have been entered for you. (Complete only the necessary input fields. Do not enter any 0 balances. Enter a decrease in stockholders' equity with a minus sign or parentheses.)
Transactions Oct. 2 Oct. 6 Oct. 9 Oct. 10 Oct. 25 Issued 21,000 shares of common stock for a building with a fair value of $280,000. Issued 400 shares of preferred stock for $140 per share. Issued 18,000 shares of common stock for cash of $90,000. Declared a $17,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Paid the cash dividend.
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