Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2014:
Definitions:
Perpetual Preferred Stock
A type of preferred stock with no fixed maturity date, offering dividends indefinitely without obligation of redemption by the issuer.
Flotation Cost
The total costs that a company incurs when it issues new securities, including underwriting, legal, and registration fees.
Annual Dividend
The total amount of dividends a company pays to its shareholders in one year, usually presented on a per share basis.
WACC
Weighted Average Cost of Capital; a calculation of a company's cost of capital in which each category of capital is proportionately weighted.
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