Solved: How many shares of common stock does this corporation have, Accounting Basics

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How many shares of common stock does this corporation have

Question - The following is located under the Stockholder's Equity section of a balance sheet:

Preferred 3% stock, $100 par $102,000

Common stock, $50 par $549,900

A. How many shares of common stock does this corporation have?

B. How many shares of Preferred stock does this corporation have?

C. What is the total dividend that will be paid for Preferred stock?

D. If the Preferred stock listing stated $3 instead of 3% would that change the total dividend amount? Why?

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Accounting Basics: How many shares of common stock does this corporation have

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Accounting Basics: How many shares of common stock does this corporation have

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