ACC 291 Week4 Individual Assignment Lachlin Corp Inc
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Purpose of Assignment The purpose of this assignment is to help you become familiar with examining the stockholders' equity section of the balance sheet.
Resources: Financial Accounting: Tools for Business Decision Making Answer the following questions in 1,050 words using the Lachlin Corporation Balance Sheet.
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?
… shows retained earnings, which is a part of stockholder’s wealth and is with company for future … and it is paid at regular intervals. In event of winding up of the company preferred stockholders also have … are the shares that the company has sold to public and has received money against them. The total value ... preferential rights. The payment of dividend on these stocks depends on the management’s decision and they are ... outstanding shares is also the same. The total value of common stock of the company is $2,900,000. The stated ... different from issued capital as there is a possibility that all the stockholders may not have paid full amount on ...