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B- Mobile Wireless needed additional capital to expand, so bisuness incorporated. The charter from state of Georgia authorized B-Mobile to issue $80,000 shares of 9%, $50 par value cumulative preferred stock and $170,000 shares of $4 par value common stock. During the first month, B-Mobile completed the following transactions:

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 23,000 shares of common stock for a building with a market value of $140,000. Date Debit Credit Oct. 2 140,000 Accounts and Explanation Building Common Stock-$4 Par Value Paid-In Capital in Excess of Par--Commor 92,000 48,000 Issued common stock for building. Read the requirements. Oct. 6: Issued 700 shares of preferred stock for $100 per share. Date Accounts and Explanation Debit Credit Oct. 6 Cash 70,000 35,000 Preferred Stock-$50 Par Value Paid-In Capital in Excess of Par-Preferred 35,000 Issued preferred stock for cash. Oct. 9: Issued 12,000 shares of common stock for cash of $60,000 Date Accounts and Explanation Debit Credit Oct. 9 60,000 Cash Common Stock-$4 Par Value 48,000 12,000 Paid-In Capital in Excess of Par-Common Issued common stock for cash. ct. 10: Declared a $21,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable scount for preferred and common stock Date Accounts and Explanation Debit Credit Oct. 10 Retained Earnings 21,000 Dividends Payable-Preferred 3,150 Dividends Payable-Common 17,850 Declared cash dividend Oct. 25: Paid the cash dividend. Date Credit Oct. 25 Accounts and Explanation Dividends Payable-Preferred Dividends Payable-Common Cash Debit 3,150 17,850 21,000 Paid cash dividend. Read the requirements. Requirement 2. Prepare the stockholders' equity section of B - Mobile's balance sheet at October 31, 2018. Assume B-Mobile's net income for the month was $93,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) B-Mobile Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity B-Mobile Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Common Stock-$4 Par Value; Paid-In Capital in Excess of Par-Common Paid-In Capital in Excess of Par-Preferred Preferred Stock--9%, $50 Par Value; Retained Earnings Total Paid-in Capital Total Stockholders' Equity B-Mobile Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: shares at cost shares authorized shares issued and outstanding Total Paid-In Capital Total Stockholders' Equity hoose from any list or enter any number in the input fields and then continue to the next

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