Blossom SA reported the following balances at December 31, 2019: share capital-ordinary €530,000, share premium-ordinary €115,000, and retained earnings €310,000. During 2020, the following transactions affected equity. 1. Issued preference shares with a par value of €140,000 for €247,000. 2. Purchased treasury shares (ordinary) for €45,000. Earned net income of €174,000. Declared and paid cash dividends of €52,000 3. 4. Prepare the equity section of Blossom SA's December 31, 2020, statement of financial position.
Blossom SA reported the following balances at December 31, 2019: share capital-ordinary €530,000, share premium-ordinary €115,000, and retained earnings €310,000. During 2020, the following transactions affected equity. 1. Issued preference shares with a par value of €140,000 for €247,000. 2. Purchased treasury shares (ordinary) for €45,000. Earned net income of €174,000. Declared and paid cash dividends of €52,000 3. 4. Prepare the equity section of Blossom SA's December 31, 2020, statement of financial position.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Blossom SA reported the following balances
at December 31, 2019: share capital-ordinary
€530,000, share premium-ordinary €115,000,
and retained earnings €310,000. During 2020,
the following transactions affected equity.
Issued preference shares with a par value of €140,000 for €247,000.
2. Purchased treasury shares (ordinary) for €45,000.
Earned net income of €174,000.
Declared and paid cash dividends of €52,000
1.
3.
4.
Prepare the equity section of Blossom SA's
December 31, 2020, statement of financial
position.
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