ACC 304 All Assignments ACC 304 All Assignments | Page 51

d. included as a contra item in stockholders' equity. S46. Cumulative preferred dividends in arrears should be shown in a corporation's balance sheet as a. an increase in current liabilities. b. an increase in stockholders' equity. c. a footnote. d. an increase in current liabilities for the current portion and long- term liabilities for the long-term portion. 47. At the date of the financial statements, common stock shares issued would exceed common stock shares outstanding as a result of the a. declaration of a stock split.