Question: A - Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes A-Wireless to issue 110,000

business incorporated. The charter from the state of Georgia authorizes A-Wireless to

issue 110,000 shares of 8%,$50 par value cumulative preferred stock and 150,000

A - Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes A-Wireless to issue 110,000 shares of 8%,$50 par value cumulative preferred stock and 150,000 shares of $1 par value common stock. During the first month. A - Wireless completed the following transactions: (Click the icon to view the transactions.) Read the requirements. 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 24,000 shares of common stock for a building with a market value of $120,000. More info Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of A - Wireless's balance sheet at October 31, 2024. Assume A - Wireless's net income for the month was $95,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.)

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