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I do not understand how to do requirement 2 please show work as well. thank you! C-Wireless Wireless needed additional capital to expand, so the
I do not understand how to do requirement 2 please show work as well. thank you!
C-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C- Wireless to issue 40,000 shares of 7%,$100 par value cumulative preferred stock and 140,000 shares of $3 par value common stock. During the first month, C - Wireless completed the following transactions: Click the icon to view the transactions.) Read the Paid cash dividend. Requirement 2. Prepare the stockholders' equity section of C-Wireless's balance sheet at October 31, 2024. Assume C-Wireless's net income for the month was $90,000. (Assume all temporary accounts have beon closed prior to preparing the stockholders' equity section of the balance sheot.) C-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C- Wireless to issue 40,000 shares of 7%,$100 par value cumulative preferred stock and 140,000 shares of $3 par value common stock. During the first month, C - Wireless completed the following transactions: (i. (Click the icon to view the transactions.) Read the requirements. More info Requ journ Oct. Oct. Oct. 6 Oot Paid-In Capital in Excess of Par-Proferred 16,000 issuod proferred stock for cash. Oct. 9: Issued 12,000 shares of common stock for cash of $72,000. C - Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia aut C - Wireless to issue 40,000 shares of 7%,$100 par value cumulative preferred stock and 140,000 shares of $3 par value common During the first month, C - Wireless completed the following transactions: Requirement 1. Record the transactions in the general journal. (Record dobits first, then credits. Select the explanation on the last joumal entry table.) Oct. 2: Issued 18,000 shares of common stock for a building with a market value of $100,000. Oct. 6: Issued 800 shares of preferred stock for $120 per share. Oct. 9: Issued 12,000 shares of common stock for cash of $72,000. Oct. 10: Deciared a \$14,000 cash dividend for stockholders of record Oct-25: Paid the cash dividend. C-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C- Wireless to issue 40,000 shares of 7%,$100 par value cumulative preferred stock and 140,000 shares of $3 par value common stock. During the first month, C - Wireless completed the following transactions: Click the icon to view the transactions.) Read the Paid cash dividend. Requirement 2. Prepare the stockholders' equity section of C-Wireless's balance sheet at October 31, 2024. Assume C-Wireless's net income for the month was $90,000. (Assume all temporary accounts have beon closed prior to preparing the stockholders' equity section of the balance sheot.) C-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C- Wireless to issue 40,000 shares of 7%,$100 par value cumulative preferred stock and 140,000 shares of $3 par value common stock. During the first month, C - Wireless completed the following transactions: (i. (Click the icon to view the transactions.) Read the requirements. More info Requ journ Oct. Oct. Oct. 6 Oot Paid-In Capital in Excess of Par-Proferred 16,000 issuod proferred stock for cash. Oct. 9: Issued 12,000 shares of common stock for cash of $72,000. C - Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia aut C - Wireless to issue 40,000 shares of 7%,$100 par value cumulative preferred stock and 140,000 shares of $3 par value common During the first month, C - Wireless completed the following transactions: Requirement 1. Record the transactions in the general journal. (Record dobits first, then credits. Select the explanation on the last joumal entry table.) Oct. 2: Issued 18,000 shares of common stock for a building with a market value of $100,000. Oct. 6: Issued 800 shares of preferred stock for $120 per share. Oct. 9: Issued 12,000 shares of common stock for cash of $72,000. Oct. 10: Deciared a \$14,000 cash dividend for stockholders of record Oct-25: Paid the cash dividend Step by Step Solution
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