oms SFP at Decer PRONGHORN CORPORATION Shareholders' Equity v 31, 2020. The company follows IFRS. $
oms SFP at Decer PRONGHORN CORPORATION Shareholders' Equity v 31, 2020. The company follows IFRS. $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Jj.84.
![Prepare the shareholders' equity section of Pronghorn's SFP at December 31, 2020. The company follows IFRS.
V:
PRONGHORN CORPORATION
Shareholders' Equity
v
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2ddc0d11-139d-4179-848e-9946b62b5a81%2Fec134f0f-7a7e-4d04-9e2a-8ffef05f5269%2Fnc34zhf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Prepare the shareholders' equity section of Pronghorn's SFP at December 31, 2020. The company follows IFRS.
V:
PRONGHORN CORPORATION
Shareholders' Equity
v
$
![Pronghorn Corporation's post-closing trial balance at December 31, 2020, was as follows
Accounts payable
Accounts receivable
Accumulated depreciation-buildings
Accumulated other comprehensive income
Allowance for doubtful accounts
Bonds payable
Buildings
Cash
Common shares.
Contributed surplus-common
Dividends payable on preferred shares
Inventory
FV-NI investments
Land
Preferred shares
Prepaid expenses
Retained earnings
Treasury shares (14,000 common shares)
Totals
PRONGHORN CORPORATION
Post-Closing Trial Balance
December 31, 2020
Authorized
Issued
Outstanding
Common
610,000
240,000
Preferred
61,000
11,900
Debit
11,900
$ 480,000
1.420.000
185,000
360,000
240,000
480,000
48,000
S
Credit
At December 31, 2020, Pronghorn had the following numbers for its common and preferred shares:
260.000
180,000
100,000
26,000
260,000
240,000
1,430,000
3,650
547,400
417,950
252,000
$ 3,465.000 $ 3,465,000
The dividends on preferred shares are $6 cumulative. In addition, the preferred shares have a preference in liquidation of 546 per
share.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2ddc0d11-139d-4179-848e-9946b62b5a81%2Fec134f0f-7a7e-4d04-9e2a-8ffef05f5269%2F3ylv7gp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pronghorn Corporation's post-closing trial balance at December 31, 2020, was as follows
Accounts payable
Accounts receivable
Accumulated depreciation-buildings
Accumulated other comprehensive income
Allowance for doubtful accounts
Bonds payable
Buildings
Cash
Common shares.
Contributed surplus-common
Dividends payable on preferred shares
Inventory
FV-NI investments
Land
Preferred shares
Prepaid expenses
Retained earnings
Treasury shares (14,000 common shares)
Totals
PRONGHORN CORPORATION
Post-Closing Trial Balance
December 31, 2020
Authorized
Issued
Outstanding
Common
610,000
240,000
Preferred
61,000
11,900
Debit
11,900
$ 480,000
1.420.000
185,000
360,000
240,000
480,000
48,000
S
Credit
At December 31, 2020, Pronghorn had the following numbers for its common and preferred shares:
260.000
180,000
100,000
26,000
260,000
240,000
1,430,000
3,650
547,400
417,950
252,000
$ 3,465.000 $ 3,465,000
The dividends on preferred shares are $6 cumulative. In addition, the preferred shares have a preference in liquidation of 546 per
share.
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