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.

Transcribed Image Text:

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