P13-41A

Read the requirements *** Oct 8 96,000 Cash Preferred Stock-$100 Par Value Paid-in Capital in Excess of Par-Preferred 80,000 Oct. 2 Oct. 6 Issued 22.0 Issued 800 16,000 Oct. 9 Issued 18,0 Declared a Dividends Oct. 10 Oct. 25 Paid the ca Assume C-Mobile's ne Debit Credit Issued proferred stook for cash. Oct. 9; Issued 18,000 shares of common stock for cash of $108,000, Dato Accounts and Explanation Oct 9 Cash Common Stock-$3 Par Value Paid-in Capital in Excess of Par-Common 108,000 54,000 54.000 Issued common stock for cash, Od. 10: Declared a $14,000 cash dividend for stockholders of record on Oct, 20. Use a separate Dividends Payable account for preferred and common stock. Date Accounts and Explanation Debit Credit Oct. 10 Retained Earnings 14000 Dividends Payable-Preferred Dividends Payable-Common 6800 7200 PUZZ = Homework: Problem 13-41A Question 1, P13-41A (si... Part 4 of 6 HW Score: 38.18%, 20.02 of 5 Points: 20.62 of 54 C-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizen C-Mobile to issue 100,000 shares of 9% 5100 $3 par value common stock. During the first month, C-Mobile completed the following transactions: (Click the icon to view the transactions.) 90,000 Read the requirements Oct 6 Cash Preferred Stock-$100 Par Value Paid-in Capital in Excess of Par-Preferred 80,000 16,000 Question 1, P13-41A (si... HW Score: 38.18%, 20.62 of 54 points Part 4 of 6 Points: 20.62 of 54 Save charter from the state of Georgia authorizes C-Mobilo to issue 100,000 shares of 9%, 5100 par value cumulative preferred stock and 100,000 shares on sactions: .000 on More Info - X Oct. 2 Issued 22,000 shares of common stock for a building with a market value of $140,000. Oct. 6 Issued 800 shares of preferred stock for $120 per share. Oct. 9 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 Oct. 10 Dividends Payable account for preferred and common stock. Oct. 25 Paid the cash dividend. Assume C-Mobile's net income for the month was $92,000. Print Done - 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