Teller SEs post-closing trial balance at December 31, 2022, was as follows. At December 31, 2022, Teller
Question:
Teller SE’s post-closing trial balance at December 31, 2022, was as follows.
At December 31, 2022, 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, 2022.
Teller SE Post-Closing Trial Balance December 31, 2022 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 1,000,000 Share premium-treasury 160,000 Treasury shares (ordinary at cost) 170,000 Total €3,290,000 €3,290,000
Step by Step Answer:
ANSWER Tellers statement of financial position at December 31 2022 in a table format Equity Accounts ...View the full answer
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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