equity accounts Archives

How many shares of common stock are outstanding? If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?

By EzekielPosted on May 7, 2023Posted in AccountingTagged collegeessays, equity accounts, essayhelp, preferred stock, Weiss Corporation

MAISTYLE CORPORATION Balance Sheet (partial) Stockholders’ equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding $900,000 Common stock, no par; 750,000 shares authorized, 600,000 shares issued 1,800,000 Total paid-in capital 2,700,000 Retained earnings 1,158,000 Total paid-in capital and retained earnings 3,858,000 Less: Treasury stock (8,000 common shares) (32,000) […]