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Requirement 3. Prepare the stockholders' equity section of Central Wireless, Inc.'s balance sheet at October 31, 2025. (Assume all temporary accounts have been closed prior
Requirement 3. Prepare the stockholders' equity section of Central Wireless, Inc.'s balance sheet at October 31, 2025.
(Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.)
just the last part
October 31, 2025 Stockholders' Equity Paid-In Capital: Preferred Stock8\%, \$70 Par Value; shares authorized, Total Paid-In Capital Total Stockholders' Equity Paid-In Capital: Preferred Stock8\%, \$70 Par Value; Common Stock\$4 Par Value; Paid-In Capital in Excess of Par-Common Paid-In Capital in Excess of Par-Preferred Preferred Stock-8\%, \$70 Par Value; Retained Earnings Oct. 9: Issued 18,000 shares of common stock for cash of $90,000. Oct. 25: Paid the cash dividend. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|c|}{CentralWireless,Inc.StatementofStockholdersEquityMonthEndedOctober31,2025} \\ \hline & \multicolumn{4}{|c|}{ Cumulative Preferred Stock } & \multicolumn{3}{|c|}{ Common Stock } & \multirow[b]{2}{*}{RetainedEarnings} & \multirow[b]{2}{*}{TotalStockholdersEquity} \\ \hline & Shares & Amount & & aid-InapitalincessofPar & Shares & Amount & Paid-InCapitalinExcessofPar & & \\ \hline Balances, Oct. 1, 2025 & 0 & & $ & 0 & 0 & 0 & $ & $ & $ \\ \hline Issuance of stock & 400 & 28,000 & & 28,000 & 39,000 & 156,000 & 214,000 & & 426,000 \\ \hline Dividends declared & & & & & & & & (17,000) & (17,000) \\ \hline Netincomeforthemonth & & & & & & & & 95,000 & 95,000 \\ \hline Balances, Oct. 31, 2025 & 400 & $28,000 & $ & 28,000 & 39,000 & $156,000 & $214,000 & $78,000 & 504,000 \\ \hline \end{tabular} Oct. 6: Issued 400 shares of preferred stock for $140 per share. Central Wireless, Inc. needed additional capital to expand, so the business incorporated. The charter from the state of New Mexico authorizes Central Wireless, Inc. to issue 130,000 shares of 8%,$70 par value cumulative preferred stock and 210,000 shares of $4 par value common stock. During the first month, Central Wireless, Inc. completed the following transactions: View the transactions. Assume Central Wireless, Inc.'s net income for the month was $95,000. 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 21,000 shares of common stock for a building with a fair value of $280,000. ct. 10: Declared a $17,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for referred and common stockStep by Step Solution
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