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.