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Requirement 2. Prepare a statement of stockholders' equity for Central Wireless, Inc. for the month ended October 31, 2025. The opening balances, which are all
Requirement 2. Prepare a statement of stockholders' equity for Central Wireless, Inc. for the month ended October 31, 2025.
The opening balances, which are all 0 for the first month of operations, have been entered for you. (Complete only the necessary input fields. Do not enter any 0 balances. Enter a decrease in stockholders' equity with a minus sign or parentheses.)
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\begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \multirow[t]{4}{*}{ Oct. 25} & |Dividends Payable_-Preferred & 2,240 & \\ \hline & |Dividends Payable-Common & 14,760 & \\ \hline & Cash & & 17,000 \\ \hline & Paid cash dividend. & & \\ \hline \end{tabular} Journal Entries \begin{tabular}{|c||c||c||r} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \hline Oct. 9 & Cash & 90,000 & \\ & Common Stock_\$4 Par Value & & 72,000 \\ & Paid-In Capital in Excess of Par_Common & & 18,000 \\ & Issued common stock for cash. & & \\ Date & Accounts and Explanation & Debit & Credit \\ \hline \hline Oct. 10 & Cash Dividends & 17,000 & \\ & Dividends Payable_Preferred & & 2,240 \\ & Dividends Payable_Common & 14,760 \\ & Declared cash dividend. & & \\ \end{tabular}Step by Step Solution
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