Jj.84. Prepare the shareholders' equity section of Pronghorn's SFP at December 31, 2020. The company follows IFRS.V:PRONGHORN CORPORATIONShareholders' Equityv$ Pronghorn Corporation's post-closing trial balance at December 31, 2020, was as followsAccounts payableAccounts receivableAccumulated depreciation-buildingsAccumulated other comprehensive incomeAllowance for doubtful accountsBonds payableBuildingsCashCommon shares.Contributed surplus-commonDividends payable on preferred sharesInventoryFV-NI investmentsLandPreferred sharesPrepaid expensesRetained earningsTreasury shares (14,000 common shares)TotalsPRONGHORN CORPORATIONPost-Closing Trial BalanceDecember 31, 2020AuthorizedIssuedOutstandingCommon610,000240,000Preferred61,00011,900Debit11,900$ 480,0001.420.000185,000360,000240,000480,00048,000SCreditAt December 31, 2020, Pronghorn had the following numbers for its common and preferred shares:260.000180,000100,00026,000260,000240,0001,430,0003,650547,400417,950252,000$ 3,465.000 $ 3,465,000The dividends on preferred shares are $6 cumulative. In addition, the preferred shares have a preference in liquidation of 546 pershare.

Stockholders' equity refers to the assets remaining in a business once all liabilities have been…

Answered: oms SFP at Decer PRONGHORN CORPORATION…

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oms SFP at Decer PRONGHORN CORPORATION Shareholders' Equity v 31, 2020. The company follows IFRS. $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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