2.99 See Answer

Question: Teller Corporation’s post-closing trial balance

Teller Corporation’s post-closing trial balance at December 31, 2012, was as follows.
Teller Corporation’s post-closing trial balance at December 31, 2012, was as follows.


At December 31, 2012, 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, 2012.
At December 31, 2012, Teller had the following number of ordinary and preference shares.
Teller Corporation’s post-closing trial balance at December 31, 2012, was as follows.


At December 31, 2012, 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, 2012.
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, 2012.





Transcribed Image Text:

TELLER CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2012 Dr. Cr. Accounts payable $ 310,000 Accounts receivable $ 480,000 185,000 30,000 700,000 Accumulated depreciation-building and equipment Allowance for doubtful accounts Bonds payable Building and equipment 1,450,000 190,000 Cash Dividends payable on preference shares-cash 4,000 Inventories 560,000 Land Prepaid expenses Retained earnings Share capital-ordinary ($1 par value) Share capital-preference ($50 par value) Share premium-ordinary Share premium –treasury Treasury shares-ordinary at cost 400,000 40,000 201,000 200,000 500,000 1,000,000 160,000 170,000 Totals $3,290,000 $3,290,000


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2.99

See Answer