Question: Hello, can someone please help me with the balance sheet in yellow towards the bottom? Thanks so much! i More Info Oct. 2 Oct. 6
Hello, can someone please help me with the balance sheet in yellow towards the bottom? Thanks so much!




i More Info Oct. 2 Oct. 6 Oct. 9 Issued 18,000 shares of common stock for a building with a market value of $130,000. Issued 900 shares of preferred stock for $80 per share. Issued 17,000 shares of common stock for cash of $68,000 Declared a $21,000 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 B-Cell's net income for the month was 595,000 Print Done B-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Cell to issue 100,000 shares of 9%, $50 par value cumulative preferred stock and 150,000 shares of $3 par value common stock. During the first month, B-Cell 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 18,000 shares of common stock for a building with a market value of $130,000 Date Debit Credit Oct. 2 130.000 Accounts and Explanation Building Common Stock-$3 Par Value Paid-In Capital in Excess of Par-Common 54.000 76,000 Issued common stock for building. Oct. 6: Issued 900 shares of preferred stock for $80 per share. Date Accounts and Explanation Debit Credit Oct. 6 Cash 72,000 Preferred Stock-$50 Par Value Paid-In Capital in Excess of ParPreferred 45,000 27,000 Issued preferred stock for cash. Oct. 9: Issued 17,000 shares of common stock for cash of $68,000 Date Accounts and Explanation Debit Credit Oct. 9 Cash 68,000 Common Stock-$3 Par Value 51,000 Paid-In Capital in Excess of Par-Common 17,000 Issued common stock for cash. Oct. 10: Declared a $21,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Date Debit Credit Oct. 10 21,000 Accounts and Explanation Cash Dividends Dividends PayablePreferred Dividends PayableCommon 4,050 16,950 Declared cash dividend. Oct. 25: Paid the cash dividend. Date Debit Credit Oct. 25 4,050 Accounts and Explanation Dividends PayablePreferred Dividends Payable-Common Cash 16,950 21,000 Paid cash dividend. Requirement 2. Prepare the stockholders' equity section of B-Cell's balance sheet at October 31, 2018. Assume B-Cell'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.) B-Cell Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Preferred Stock-9%, $50 Par Value; shares authorized shares issued and outstanding Paid-In Capital in Excess of Par-Preferred Common Stock-$3 Par Value; shares authorized shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity
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