Z Problem 4: P13-37A C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative preferred stock and 120,000 shares of $2 par value common stock. During the first month, C-Cell completed the following transactions. Assume C-Cell's net income for the month was $96,000. CO R T 0 Transactions: 10/02/2016 Issued 22,000 shares of common stock for a building with a 10/06/2016 Issued 900 shares of preferred stock for $70 per share. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record common stock. SAVE WORK RESET orated. The charter from value cumulative Assume C-Cell's net Assignment: This question has 3 requirements. Scroll down to review the requirements and ensure you complete all requirements before submitting your work for grading. Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal Or a building with a market value of $120,000. $70 per share. or cash of $60,000. Ockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and E WORK RESET RESULTS SUBMIT WORK October 1, 2016 October 31, 2016 > AL Account Debit Credit PREVIOUS 4 NEXT ? The charter from complete all requirements before submitting your work for grading. e cumulative me C-Cell's net Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal entries, including the changes in each account. 3. Review the stockholders' equity section of C-Cell's balance sheet at October 31, 2016. building with a market value of $120,000. per share. ash of $60,000. molders of record on Oct. 20. Use a separate Dividends Payable account for preferred and ORK RESET RESULTS SUBMIT WORK < October 1, 2016 October 31, 2016 > Problem 4: P13-37A C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from complete all requirements before submitting your work for grading the state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative preferred stock and 120,000 shares of $2 par value common stock. During the first month, C-Cell completed the following transactions. Assume C-Cell's net income for the month was $96,000. Transactions: Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal entries, including the changes in each account. 3. Review the stockholders' equity section of C-Cell's balance sheet at October 31, 2016.1 10/02/2016 Issued 22,000 shares of common stock for a building with a market value of $120,000. 10/06/2016 Issued 900 shares of preferred stock for $70 per share. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. SAVE WORK RESET RESULTS SUBMIT WORK oblem 4: P13-37A C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from complete all requirements before submitting your work for grading me state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative referred stock and 120,000 shares of $2 par value common ock. During the first month, C-Cell completed the following transactions. Assume C-Cell's net come for the month was $96,000. Transactions: 10/06/2016 1ssued you snares or prererred stock for $70 per snare. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal entries, including the changes in each account. 3. Review the stockholders' equity section of C-Cell's balance sheet at October 31, 2016. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred common stock. 10/25/2016 Paid the cash dividend. SAVE WORK RESET RESULTS SUBMIT WORK October 1, 2016 - October 31, 20 BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date 10/02/2016 Account Buildings-11150 Common Stock - $2 Par Value - 30500 Cash-10100 ADD ROW DELETE CHECKED Rows POST TO GENERAL LEDGER CANCEL Debit Cr Problem 4: P13-37A C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from complete all requirements before submitting your work for grading the state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative preferred stock and 120,000 shares of $2 par value common stock. During the first month, C-Cell completed the following transactions. Assume C-Cell's net income for the month was $96,000. Requirements: The accounts used by C-Cell Wireless are provided in the Chart of Accounts (click on "Chart of Accounts" to view). The accounts have already been opened in the General Ledger (click on "General Ledger" to view). 1. Prepare journal entries to record the transactions of C-Cell Wireless and post the entries to the General Ledger. (Explanations are not required.) 2. Review each of the accounts in the General Ledger to see the results of posting the journal entries, including the changes in each account. 3. Review the stockholders' equity section of C-Cell's balance sheet at October 31, 2016, Transactions: 10/06/2016 issued you shares or preferred stock for $70 per snare. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. 10/25/2016 Paid the cash dividend. BUSINESS REPORTS SAVE WORK RESET RESULTS SUBMIT WORK - October 1, 2016 October 31, 2016 COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date 10/02/2016 Buildings-11150 Common Stock - $2 Par Value - 30500 Cash-10100 Account Apo Row DELETE CHECKED Rows POST TO GENERAL LEDGER CANCEL Debit Credit common stock. 5/2016 Paid the cash dividend. SAVE WORK RESET RESULTS SUBMIT WORK KO S ess REPORTS NY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date 10/02/2016 Row DELETE CH Buildings 11150 - Account Common Stock - $2 Par Value - 30500 Cash-10100 Cash - 10100 Buildings 11150 - Dividends Payable - Preferred - 20650 Dividends Payable - Common - 20700 Preferred Stock $50 Par Value - 30400 - Paid-In Capital in Excess of Par - Preferred - 30450 Common Stock $2 Par Value - 30500 Paid-In Capital in Excess of Par Common - 30550 Cash Dividends - 30650 Transactions: 10/06/2016 Issued 900 snares or preferred stock for $70 per snare. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of record on Oct. 20. Use a separ common stock. 10/25/2016 Paid the cash dividend. BUSINESS REPORTS SAVE WORK RESET RESULTS SUBMIT WORK COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date 10/02/2016 Buildings 11150 Common Stock - $2 Par Value - 30500 Cash-10100 ADD ROW Account DELETE CH Dividends Payable Common - 20700 Preferred Stock $50 Par Value - 30400 Paid-In Capital in Excess of Par Preferred - 30450 Common Stock $2 Par Value - 30500 - Paid-In Capital in Excess of Par - Common - 30550 Cash Dividends - 30650 Dividends Common -30850 " Dividends Preferred - 30900 Dividend Revenue 60150 HOMEWORK 2 Problem 4: P13-37A C-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Cell to issue 50,000 shares of 7%, $50 par value cumulative preferred stock and 120,000 shares of $2 par value common stock. During the first month, C-Cell completed the following transactions. Assume C-Cell's net income for the month was $96,000. CC R T 0 Transactions: 10/02/2016 Issued 22,000 shares of common stock for a building with a 10/06/2016 Issued 900 shares of preferred stock for $70 per share. 10/09/2016 Issued 12,000 shares of common stock for cash of $60,000. 10/10/2016 Declared a $16,000 cash dividend for stockholders of recore common stock. SAVE WORK RESET