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Function: SUM; Cell Referencing
Some cells are merged.
Using Excel to Prepare the Shareholders' Equity Section of the Statement of Financial Position Student Work Area
Required: Provide input into cells shaded in yellow in this template. Use cell references to amounts and account names in the Problem and work area as indicated. Use the SUM function to add amounts.
PROBLEM
Southern Corporation's adjusted trial balance contained the following accounts at December 31, 2023.


Retained earnings $120,000 Prepare the shareholders' equity section of the statement of financial position.
Common shares 700,000
Bonds payable 100,000
Contributed surplus 200,000 Shareholders’ equity
Preferred shares 50,000 Share capital
Goodwill 55,000 Common shares $700,000
Accumulated other comprehensive loss (150,000) Preferred shares 50,000
Total share capital 750,000
Prepare the shareholders' equity section of the statement of financial position. Retained earnings 120,000
Contributed surplus 200,000
Accumulated other comprehensive loss (150,000)
Total shareholders’ equity $920,000













































Respuesta :

Santy1245
Yes, your answer is correct.
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Shareholders’ Equity:

• Common Shares: $700,000
• Preferred Shares: $50,000
• Contributed Surplus: $200,000
• Retained Earnings: $120,000
• Accumulated Other Comprehensive Loss: ($150,000)

Total Shareholders’ Equity: $920,000

Ensure you exclude Bonds Payable and Goodwill when preparing the shareholders’ equity section.