Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes to issue 120,000shares of , 7% $ 100 par value cumulative preferred stock and shares of $ par value common stock. During the first month, completed the following transactions:

D- Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D - Mobile to issue 120,000 shares of 7%, $100 par value cumulative preferred stock and 110,000 shares of $1 par value common stock. During the first month, D - Mobile completed the following transactions: (Click the icon to view the transactions.) Read the requirements. - More info - X Requirements Oct. 2 Oct. 6 Oct. 9 Issued 18,000 shares of common stock for a building with a market value of $100,000. Issued 900 shares of preferred stock for $130 per share. Issued 12,000 shares of common stock for cash of $72,000. Declared a $13,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Paid the cash dividend. 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of D-Mobile's balance sheet at October 31, 2018. Assume D - 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.) Oct. 10 Oct. 25 Assume D-Mobile's net income for the month was $92,000. Print Done Print Done Clear all Check