Journalizing stock issuance and cash dividends and preparing thestockholders 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: *** TOTAL Stockholder's Equity is $504,000 ****

Oct. 2	Issued 19,000 shares of common stock for a building with a market valueof $250,000.
Oct.6	Issued 800 shares of preferred stock for $110 per share.
Oct.9	Issued 15,000 shares of common stock for cash of $90,000.
Oct.10	Declared a $16,000 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.

Requirements

1. Record the transactions in the general journal.

2. Prepare the stockholders equity section of B-Mobiles balance sheet at October31, 2014. Assume B-Mobiles net income for the month was $92,000.