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Which common stock will be credited at

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Problem 1: Farnon Company has not declared or paid dividends on its cumulative preferred stock in the last three years. These dividends should be reported

a. in a note to the financial statements.
b. as a reduction in stockholders' equity.
c. as a current liability.
d. as a noncurrent liability.

Problem 2: A company issued rights to its existing shareholders to acquire, at 15 per share, 5,000 unissued shares of common stock with a par value of 10 per share. Common Stock will be credited at

a. 15 per share when the rights are exercised.
b. 15 per share when the rights are issued.
c. 10 per share when the rights are exercised.
d. per share when the rights are issued.

Reference no: EM132936919

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