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Hi, can you help me with this question? Thanks! * P13-37A (similar to) Question Help B-Cell Wireless needed additional capital to expand, so the business
Hi, can you help me with this question? Thanks!
* P13-37A (similar to) Question Help B-Cell Wireless needed additional capital to expand, so the business incorporated The charter from the state of Georgia authorizes 3 - Cell to issue 100 000 shares of 9% 550 par value cumulative preferred stock and 130,000 shares of S2 par value common stock. During the first month B - Cell completed the following transactions (Click the icon to view the transactions.) Requirements 1. Record the transactions in the general joumal 2. Prepare the stockholders' equity section of B-Cells balance sheet at October 31, 2016. Assume 3 - Cells net income ray Cash 20.000 was $97.000 Paid cash dividend Requirement 2. Prepare the stockholders' equity section of B - Cells balance sheet at October 31, 2016. Assume B-cell's net income for the month was 97.000 More info Oct $ 27.500 09 B-Cell Wireless Balance Sheet (Partial) October 31, 2016 Stockholders' Equity Paid-in Capital Preferred Stock-9%. $50 Par Value 100,000 shares authorized 550 shares issued and outstanding Paid-in Capital in Excess of Par Preferred Common Stock-$2 Par Value shares authorized shares issued and outstanding Paid In Capital in Excess of Par Common Total Paid-in Capital Retained Eamings 2 Issued 19,000 shares of common stock for a building with a market value of $210 000 6 Issued 550 shares of preferred stock for $170 per share 9 Issued 11,000 shares of common stock for cash of 566.000. 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 25 Paid the cash dividend Total Stockholders' Equity o mul number in the input felds and then click CheckStep by Step Solution
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