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Journalizing stock issuance and cash dividends and preparing the stockholders' equity section of the balance sheet B-Mobile Wireless needed additional capital to expand, so the
Journalizing stock issuance and cash dividends and preparing the stockholders' equity section of the balance sheet B-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Mobile to issue 70,000 shares of 5%, $100 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: Requirements Record the transactions in the general journal. Prepare the stockholders' equity section of B-Mobiles balance sheet at October 31, 2014. Assume B-Mobile's net income for the month was $92,000
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