Homework: Week 8 - Chapter 12 problems Save score: 0.64 of 1 pt 4-5017(7 complete) HW Score: 78.25%, 5 48 of 7 pts & P13-43B (similar to) E Question Help B-Moble Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Mobile to issue 90,000 shares of 7%, $50 par value cumulative preferred stock and 150,000 shares orsi par value common stock During the first month B-Moble competed the following transactions: (Click the icon to view the transactions) Requirements 1. Record the transactions in the general journal 2. Prepare the stockholders' equity section of B-Mobile's balance sheet at October 31,2016. Assume B-Mobile's net income for the month was $93,000 Oct 25: Paid the cash dividend. Date Accounts and Explanation Debit Credit Dividends Payable-Preferred 3,500 15,500 Oct 25 Dividends Payable-Common Cash 9,000 Paid cash dividend Requirement 2. Prepare the stockholders' equity section of B- Mobile's balance sheet at October 31, 2016. Assume B-Mobile's net income for the month was 93,000 B-Mobile Wireless Balance Sheet (Partial) October 31, 2016 Stockholders' Equity Paid-In Capital Preferred Stock-7%, S50 Par Value, 90000 shares authorized 1000 shares issued and outstanding Paid-In Capital in Excess of Par Preferred Common Slock -$1 Par Value 39000 shares issued and outstanding 150000 shares authorized, Paid-in Capital in Excess of Par Common Total Paid-In Capital Retained Earnings Total Stockholders Equity Choose from any list or enter any number in the input fields and then dlick Check Answer All parts showing Check Answer Clear All