D- Mobile wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D- Mobile to issue 110,000 shares of 7%, $50 par value cumulative preffered stock and 100,000 shares of $1 par value common stock. During the first month, D- mobile completed the following transactions:

Oct. 2 Oct. 6 Oct. 9 Issued 20,000 shares of common stock for a building with a market value of $130,000. Issued 650 shares of preferred stock for $90 per share. Issued 17,000 shares of common stock for cash of $85,000. Declared a $20,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Paid the cash dividend. Oct. 10 Oct. 25 Assume D-Mobile's net income for the month was $95,000. Print Done i Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of D-Mobile's balance sheet at October 31, 2018. Assume D - Mobile'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.) Print Done Read the requirements Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanat Oct. 2: Issued 20,000 shares of common stock for a building with a market value of $130,000. Date Accounts and Explanation Debit Credit Oct. 2