Stockholders’ Equity Section of the Balance Sheet Purpose of Assignment The purpose of this assignment

Stockholders’ Equity Section of the Balance Sheet Purpose of Assignment The purpose of this assignment

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Stockholders’ Equity Section of the Balance Sheet  Purpose of Assignment  The purpose of this assignment

Stockholders’ Equity Section of the Balance Sheet

 

Purpose of Assignment 

The purpose of this assignment is to help you become familiar with examining the stockholdersequitysection of the balance sheet. 

Assignment Steps 

ResourcesFinancial AccountingTools for Business Decision MakingCh. 11

Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet located onp. 575 of Financial Accounting: 

• How many shares of common stock are outstanding?
• Assuming there is a stated valuewhat is the stated value of the common stock?
• What is the par value of the preferred stock?
• If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock?
• If dividends of $72,000 were in arrears on preferred stockwhat would be the balance reported for retained earnings?

Use the Week 4 Excel® spreadsheet and submit with your answers.


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