Teller Corporation’s post-closing trial balance at December 31, 2015, was as follows.

At December 31, 2015, Teller had the following number of ordinary and preference shares.

The dividends on preference shares are €4 cumulative. In addition, the preference shares have a preference in liquidation of €50 per share.
Instructions Prepare the equity section of Teller’s statement of financial position at December 31, 2015.

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TELLER CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2015 Dr. Cr. Accounts payable 310,000 Accounts receivable 480,000 Accumulated depreciation-buildings 185,000 Allowance for doubtful accounts 30,000 Bonds payable 700,000 Buildings 1,450,000 Cash 190,000 Dividends payable (preference shares-cash) 4,000 Inventory 560,000 Land 400,000 Prepaid expenses 40,000 Retained earnings 201,000 Share capital-ordinary (1 par value) 200,000 Share capital-preference (50 par value) 500,000 Share premium-ordinary Share premium-treasury Treasury shares (ordinary at cost) 1,000,000 160,000 Total 170,000 3,290,000 3,290,000