P13-41A

Homework: Problem 13-41A Question 1, P13-41A (s... Part 1 of 6 HW Score O Points C-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Mobile to issue 100,00 $3 par value common stock. During the first month, C-Mobile completed the following transactions: (Click the icon to view the transactions.) Read the requirements Requirement 1. Record the transactions in the general journal. (Record debits first, then credits Select the explanation on the last line of the journal entry table.) Oct. 2: Issued 22,000 shares of common stock for a building with a market value of $140,000 Accounts and Explanation Debit Date Credit Oct. 2 Question 1, P13-41A (sl... HW Score: 0%, 0 of 54 points Part 1 of 6 Points: 0 of 54 Save he charter from the state of Georgia authorizes C-Mobile to issue 100,000 shares of 9%, $100 par value cumulative preferred stock and 100,000 shares of ansactions: credits. Select the explanation on the last line of the journal entry table.) ,000 bit Credit More Info Oct. 2 Oct. 6 Oct. 9 Issued 22,000 shares of common stock for a building with a market value of $140,000. Issued 800 shares of preferred stock for $120 per share. Issued 18,000 shares of common stock for cash of $108,000. Declared a $14,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Paid the cash dividend. Oct. 10 Oct. 25 Assume C - Mobile's net income for the month was $92,000. Print Done X Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of C - Mobile's balance sheet at October 31, 2018. Assume C - Mobile's net income for the month was $92,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) Print Done