Chapte. - Saved -Brian W Smith BWAutoSaveff>>FileInsertDesignLayoutReferencesMailingsReviewViewHelpHomeFontParagraph StylesEditingSensitivityEditorPasteDictateClipboardVoiceSensitivityEditorI 1 2I 3 I 4 I 5. I .6.Chapter 13 homework Answer KeyP13-41A Journalizing stock issuance and cash dividends and preparing the stockholders'equity section of the balance sheetD-Mobile Wireless needed additional capital to expand, so the business incorporated. The charterfrom the state of Georgia authorizes D-Mobile to issue 50,000 shares of 8%, $50 par valuecumulative preferred stock and 160,000 shares of S4 par value common stock. During the firstmonth, D-Mobile completed the following transactions:ng aOct. 2Issued 19,000 shares of common stock for a building with a market value of $240,000.Issued 600 shares of preferred stock for $140 per share.Issued 11,000 shares of common stock for cash of $55,000.10Declared a $19,000 cash dividend for stockholders of record on Oct. 20. Use a separateDividends Payable account for preferred and common stock.25Paid the cash dividend.dateRequirements1. Record the transactions in the general journal.SOLUTIONDateAccounts and ExplanationDebitCredOct. 2Page 1 of 2175 words DDFocus目e Type here to search%23日

Definition: Common stock: Common stock is the instrument used by the company for raising funds from…

D-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D-Mobile to issue 50,000 shares of 8%, $50 par value cumulative preferred stock and 160,000 shares of $4 par value common stock. During the first month, D-Mobile completed the following transactions: Oct. 2 Issued 19,000 shares of common stock for a building with a market value of $240,000. Issued 600 shares of preferred stock for $140 per share. 9. Issued 11,000 shares of common stock for cash of $55,000. Declared a $19,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. 10 25 Paid the cash dividend.

D-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D-Mobile to issue 50,000 shares of 8%, $50 par value cumulative preferred stock and 160,000 shares of $4 par value common stock. During the first month, D-Mobile completed the following transactions: Oct. 2 Issued 19,000 shares of common stock for a building with a market value of $240,000. Issued 600 shares of preferred stock for $140 per share. 9. Issued 11,000 shares of common stock for cash of $55,000. Declared a $19,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. 10 25 Paid the cash dividend.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question: Upper C minus Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes Upper C minus Mobile to issue 110,000 shares of 6 %, $50 par value cumulative preferred stock, and 170,000 shares of $2 par value common stock. During the first month, Req 1: Upper C minus Mobile completed the following transactions: ( Req 1 was completed.) More Data: Oct 2- Issued 23,000 shares of common stock for a building with a market value of $100,000. Oct 6.- Issued 700 shares of preferred stock for $160 per share. Oct 9- Issued 17,000 shares of common stock for cash of $102,000. Oct 10- Declared a $12,000 cash dividend for stockholders of record on Oct. 20. Use a separate Oct 25- Paid the cash dividend. Assume C − Mobile's net income for the month was $96,000. Requirement 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…
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