Question: please help me figure this out D - Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of
please help me figure this out

D - Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D - Cell to issue 100,000 shares of 10%, $100 par value cumulative preferred stock and 170,000 shares of $5 par value common stock. During the first month, D- Cell completed the following transactions: i (Click the icon to view the transactions.) Read the requirements. UCIOver 31, ZU TO More Info X Stockholders' Equity Paid-In Capital: Oct. 2 Issued 24,000 shares of common stock for a building with a market value Preferred Stock-10%, $100 Par Value: of $270,000. 100000 shares authorized, 950 shares issued and outstanding 95000 6 Issued 950 shares of preferred stock for $110 per share. 9 Issued 15,000 shares of common stock for cash of $90,000. 10 Declared a $15,000 cash dividend for stockholders of record on Oct. 20. Common Stock-$5 Par Value Use a separate Dividends Payable account for preferred and common stock 15000 shares authorized 25 Paid the cash dividend. Total Paid-In Capital Print Done Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next question. 10:07 AM Type here to search O 36 10/4/2020
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
