DCell
Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes DCell
to issue 120,000
shares of 7%,
$150
par value cumulative preferred stock and 100,000
shares of $3
par value common stock. During the first month, DCell
completed the following transactions:
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.)
Requirement 2. Prepare the stockholders' equity section of DCell's
balance sheet at October
31,
2024.
Assume DCell's
net income for the month was $91,000.
(Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) 
mon on the last line of the journal entry table.) More Info X h Oct. 2 Issued 24,000 shares of common stock for a building with a market value of $120,000 Oct. 6 Issued 700 shares of preferred stock for $170 per share Oct. 9 Issued 14,000 shares of common stock for cash of $70,000 Oct. 10 Declared a $20,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock Oct. 25 Paid the cash dividend Assume D-Cell's net income for the month was $91,000. Print Done e account for preferred and common stock D-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia transactions (Click the icon to view the transactions.) Read the requirements Oct 2. Issued 24 000 shares of common stock for a building with a market value of $120,000 Dato Accounts and Explanation Debit Oct 2 Credit Oct. Oct. Oct 6 Issued 700 shares of preferred stock for $170 per share Date Accounts and Explanation Debit Credit Oct. Oct. Oct 6 Oct 2 Assun Oct 9 Issued 14,000 shares of common stock for cash of S70 000 Accounts and Explanation Date Oct 9 Debit Credit Oct 10: Declared a 520 000 cash dividend for stockholders of record on Oct 20. Use a separate Dividends Payable account fou Date Accounts and Explanation Debit Credit Oct 10 Choose from any ist or enter any number in the input Delds and then continue to the next question pavers CNOOR2 Click the icon to view the transactions Read the requirements Oct 10: Declared a $20.000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable a Date Accounts and Explanation Debit Credit Oct 10 Oct 25 Paid the cash dividend Date Accounts and Explanation Debit Credit Oct 25 A Requirement 2. Prepare the stockholdersequity section of D-Cell's balance sheet at October 31, 2024. Assume D-C D.Coll Wireless Balance Sheet (Partial) October 31, 2024 Stockholders' Equity Paid in Capital Choose from any list or enter any number in the input fields and then continue to the next question Pavers CN0022 Accounts and Explanation Debit by Building Cash Oash Dividends Common Stock-$3 Par Value Paid the Dividends Payable-Common Dividends Payable-Preferred ce Paid-In Capital in Excess of Par-Common Paid-in Capital in Excess of Par-Preferred Preferred Stock-$150 Par Value Retained Earnings Treasury Stock-Common Debit ement 2. Prepare the stockholders' equity section of D-Cells balance sheet at October D-Cell Wireless Balance Sheet (Partial) October 31, 2024 Stockholders' Equity in Capital e from any list or enter any number in the input fields and then continue to the next qu ae Declared cash dividend. Declared stock dividend. Issued common stock for building. Issued common stock for cash. Issued preferred stock for cash. Paid cash dividend. Purchased treasury stock. 2. Prepare the stockholders' equity section of D-Cell's balance sh D-Cell Wireless Balance Sheet (Partial) October 31, 2024 Stockholders' Equity ital: Requirement 2. Prepare the stockholders' equity section of D-Cell's balance sheet at October 31, 2024. Assum D-Cell Wireless Balance Sheet (Partial) October 31, 2024 Stockholders' Equity Paid-In Capital Total Paid-in Capital Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next question pavers CNOo22 027 21 um quirement 2. Prepare the stockholders equity section of D-Cells balance sheet at October 3 D.Cell Wireless Balance Sheet (Partial) October 31, 2024 Stockholders' Equity Paid-In Capital Common Stock-53 Par Value; Paid-In Capital in Excess of Par-Common Paid-in Capital in Excess of Par--Preferred Preferred Stock-7% 5150 Par Value: Retained Earnings Total Paid In Capital Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next questi pavers CNooaa 027.12 cloud ent 2. Prepare the stockholders' equity section of D-Cell's balance sheet at October 31, 2024. A D-Cell Wireless Balance Sheet (Partial) October 31, 2024 Stockholders' Equity Capital things shares at cost shares authorized shares issued and outstanding al Paid-in Capital Stockholders' Equity from any list or enter any number in the input fields and then continue to the next question pavers CNooaa 027121
