ACC 291 WEEK 4 Stockholders’ Equity Section of the Balance Sheet (Lachlin Corporation Balance Sheet)

ACC 291 WEEK 4 Stockholders’ Equity Section of the Balance Sheet (Lachlin Corporation Balance Sheet)

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Attachments: ACC 291 Nn Week 4 Stockholders’ Equity Section of the Bal(Lachlin Corporation BalS).docx [ Preview Here ] ACC 291 Nn Week 4 Stockholders’ Equity Section of the Bal(Lachlin Corporation BalS).xlsx [ Preview Here ]

Purpose of Assignment 

The purpose of this assignment is to help you become familiar with examining the stockholders' equity section of the balance sheet. 

Assignment Steps 

 

Resources: Financial Accounting: Tools for Business Decision Making

Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet (partial) below: 

·         How many shares of common stock are outstanding?

·         Assuming there is a stated value, what 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 stock, what would be the balance reported for retained earnings?

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