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Shown below is information relating to the stockholders' equity of Acme at December 31, 2025: 10% cumulative preferred stock, $150 par Common stock, $6.50 par, 500,000 shares authorized Paid-in capital in Excess of Par: common stock Retained earnings Dividends in arrears on preferred stock, 1 full year What is the number of shares of common stock issued & outstanding? Round to the nearest whole shar $901711 $2604704 $132533 $1501057

Shown below is information relating to the stockholders' equity of Acme at December 31, 2025: 10% cumulative preferred stock, $150 par Common stock, $6.50 par, 500,000 shares authorized Paid-in capital in Excess of Par: common stock Retained earnings Dividends in arrears on preferred stock, 1 full year What is the number of shares of common stock issued & outstanding? Round to the nearest whole shar $901711 $2604704 $132533 $1501057

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Shown below is information relating to the stockholders' equity of Acme at December 31, 2025: 10% cumulative preferred stock, $150 par $901711 Common stock, $6.50 par, 500,000 shares authorized $2604704 Paid-in capital in Excess of Par: common stock $132533 Retained earnings $1501057 Dividends in arrears on preferred stock, 1 full year What is the number of shares of common stock issued & outstanding? Round to the nearest whole share. Hint: Keep in mind how you first calculated the amount that went into the common stock account.
Transcribed Image Text:Shown below is information relating to the stockholders' equity of Acme at December 31, 2025: 10% cumulative preferred stock, $150 par $901711 Common stock, $6.50 par, 500,000 shares authorized $2604704 Paid-in capital in Excess of Par: common stock $132533 Retained earnings $1501057 Dividends in arrears on preferred stock, 1 full year What is the number of shares of common stock issued & outstanding? Round to the nearest whole share. Hint: Keep in mind how you first calculated the amount that went into the common stock account.
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