Stockholders Equity Section of the Balance Sheet, accounting homework help

Anonymous
timer Asked: Mar 18th, 2017
account_balance_wallet $10

Question Description

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, Ch. 11

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

  • 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?

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

The stockholders' equity section of Lachlin Corporation's balance sheet at December 31 is presented here. Instructions From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $36,000, what is the dividend rate on preferred stock? (e) If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? Prepare correct entries for capital stock transactions.
Name Section Date Exercises 11-4 E11-4 Lachlin Corporation (a) (b) (c) (d) (e) 627 xercises 11-4 627

Tutor Answer

Dmitry
School: UCLA

Attached.

Name
Section
Date

Exercises 11-4

E11-4

Lachlin Corporation

(a)

Common Shares Outstand

6.000

(b)

Par Value

(c)

Preferred Stocks
Par Value

(d)

Dividend

36.000

Preferred Stocks
Par Value Preferred Stock

10.000
4

100

600.000

600.000
60

(e)
Dividend
Less: Dividend Paid

72.000
(36.000)

Retained Earnings

36.000

627

xercises 11-4

627

Attached.

Surname:1

Name
Tutor
Course Number
Date
Analysis of Balance Sheet
Introduction
Increasing the shareholder’s equity is very important for the sake of an organization. The
companies which are able to manage their equity in a professional manner are the one that can
actualize their growth substantially. The financial outcome of an organization can be found from
different angles in particular. The higher and efficient the financial outcome, the higher will be
the power from which they can manage their well-being. Financial statement is a sort of
document in which the actual financial position and reflections related to a company are present.
Financial statement of a company is divided into four main elements or parts which are
income statement, balance sheet, cash flow and Changes in equity. All of these elements are
essential for their long run productivity. Each of these elements of the financial statement has its
significance, and association with the compliance of the objectives of the company. Balance
Sheet is an important element of the financial statement that speci...

flag Report DMCA
Review

Anonymous
Top quality work from this guy! I'll be back!

Similar Questions
Hot Questions
Related Tags
Study Guides

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors