More info

Oct $2$ Issued $17,000$ shares of common stock for a buiteding whtiamarkef value of $$210000$

$6$ Issued $550$ shares of preferred stock for $$150$ per shate

$9.$Issued $14000$ shares of common stock for cash of $$56000$

$10$ Declared a $$19$;$000$ eash dividend for stockholders of iecord $0$ in $0$ et $20$ Use a separate Dividends Payable account for pieferied and commen stock

$25.$ Patd the cash dividend.

A $=$ Cell Wireless needed additional capital to expand, so the buisiness ncoporated The ctiater from the state of Georgia authorizes A $-$ Cell to issue $40,000$ shares of $6\%,$$$100$ par value cumulative preferred stock and $180,000$ shares of $$2.$ Dar value common stock. During the first month, A $-$ Cell completed the following transactions

$($Click the icon to view the transactions$)$

Requirements

Record the transactions in the general joumal

Prepare the stockholders' equity section of A $-$ Cell's balance sheet at October $312016.$ Assume A $-$ Cell's net income for the month was $$89,000.$

Requirement $1.$ Record the transactions in the general journal. $($Record debits first, ther ciedits Select the explanation on the last line of the joumel entry table.$)$

Oct $2$: Issued $17,000$ shares of common stock for a building with a market value of $$210$;$000$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$notio$,$Riuldinn,,$210\mathrm{.}000$