= Homework: CHAPTER 13 HOMEWORK Question 9, P13-48B (similar to) Part 6 of 6 HW Score: 96.36%, 19.27 of 20 points Points: 1.27 of 2 Save B-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B - Mobile to issue 90,000 shares of 10%, $50 par value cumulative preferred stock and 110,000 shares of $2 par value common stock. During the first month, B - Mobile completed the following transactions: i (Click the icon to view the transactions.) Read the requirements. Declared cash dividend. Oct. 25: Paid the cash dividend. Date Oct. 25 Accounts and Explanation Dividends Payable-Preferred Dividends Payable-Common Cash Debit Credit 5,000 16,000 21,000 Paid cash dividend. Requirement 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.) B-Mobile Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity More info - X Paid-In Capital: Oct. 2 Oct. 6 Issued 20,000 shares of common stock for a building with a market value of $150,000. Issued 1,000 shares of preferred stock for $170 per share. Preferred Stock-10%, $50 Par Value; 90,000 shares authorized, 1,000 shares issued and outstanding Oct. 9 Paid-In Capital in Excess of Par-Preferred Common Stock-$2 Par Value; Oct. 10 Issued 15,000 shares of common stock for cash of $90,000. Declared a $21,000 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. 110,000 shares authorized, 15,000 shares issued and outstanding Assume B-Mobile's net income for the month was $96,000. Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity Help me solve this Demodocs example Get more help - Print Done Clear all Check answer