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: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter11: Stockholders' Equity

Section: Chapter Questions

Problem 11.18E

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