Teller Corporation's post-closing trial balance at December 31, 2020, was as follows. Teller CorporationPost-Closing Trial BalanceDecember 31, 2020 00 000Dr.000 0000 000Cr.000 Accounts payable 00 $ 310,000 Accounts receivable $ 480,000 00 Accumulated depreciation—building and equipment 00 185,000 Allowance for doubtful accounts 00 30,000 Bonds payable 00 700,000 Building and equipment 1,450,000 00 Cash 190,000 00 Dividends payable on preference shares—cash 00 4,000 Inventories 560,000 00 Land 400,000 00 Prepaid expenses 40,000 00 Retained earnings 00 201,000 Share capital—ordinary ($1 par value) 00 200,000 Share capital—preference ($50 par value) 00 500,000 Share premium—ordinary 00 1,000,000 Share premium—treasury 00 160,000 Treasury shares—ordinary at cost 110170,000 111170,000 Totals $3,290,000 $3,290,000 At December 31, 2020, Teller had the following number of ordinary and preference shares. 00 Ordinary Preference Authorized 600,000 60,000 Issued 200,000 10,000 Outstanding 190,000 10,000 The dividends on preference shares are $4 cumulative. In addition, the preference shares have a preference in liquidation of $50 per share.InstructionsPrepare the equity section of Teller's statement of financial position at December 31, 2020.

Teller Corporation's post-closing trial balance at December 31, 2020, was as follows. Teller Corporation Post-Closing Trial Balance December 31, 2020 00 000Dr.000 0000 000Cr.000 Accounts payable 00...

Teller Corporation's post-closing trial balance at December 31, 2020, was as follows.

Teller Corporation Post-Closing Trial Balance December 31, 2020
00	000Dr.000	0000	000Cr.000
Accounts payable	00	$ 310,000
Accounts receivable	$ 480,000	00
Accumulated depreciation—building and equipment	00	185,000
Allowance for doubtful accounts	00	30,000
Bonds payable	00	700,000
Building and equipment	1,450,000	00
Cash	190,000	00
Dividends payable on preference shares—cash	00	4,000
Inventories	560,000	00
Land	400,000	00
Prepaid expenses	40,000	00
Retained earnings	00	201,000
Share capital—ordinary ($1 par value)	00	200,000
Share capital—preference ($50 par value)	00	500,000
Share premium—ordinary	00	1,000,000
Share premium—treasury	00	160,000
Treasury shares—ordinary at cost	110170,000	111170,000
Totals	$3,290,000	$3,290,000

At December 31, 2020, 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.

Prepare the equity section of Teller's statement of financial position at December 31, 2020.

Jun 09, 2022