The following equity accounts are in the ledger of Galindo Company at December 31, 2020. Share CapitalOrdinary
Question:
The following equity accounts are in the ledger of Galindo Company at December 31, 2020.
Share Capital—Ordinary (€5 stated value) .........................€2,000,000
Share Premium—Treasury Shares .............................................10,000
Share Premium—Preference ....................................................679,000
Share Premium—Ordinary ....................................................1,600,000
Share Capital—Preference (8%, €50 par).................................800,000
Retained Earnings ...................................................................1,748,000
Treasury Shares (10,000 ordinary shares) ...............................130,000
Instructions
Prepare an equity section at December 31, 2020.
Step by Step Answer:
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt