Make the statement of changes in equity for this company

Assignment Help Accounting Basics
Reference no: EM133039343

Question - Mr. Naidu has provided the following extract of the equity section from his company's statement of financial position:

 

2020

2019

Share Capital

$3,750,000

$3,600,000

General Reserve

$600,000

$100,000

Asset Revaluation Surplus

$1,040,000

$240,000

Retained Profits

$500,000

$680,000

 

$5,890,000

$4,620,000

Additional information -

(a) The company issued 100,000 shares at $1.50 each during the year.

(b) Profit for the year was $350,000.

(c) Dividends paid during the year were $30,000.

(d) A transfer of $500,000 was made from retained earnings to general reserve during the year.

(e) Land was revalued by $800 000 during the year.

Required - Make the statement of changes in equity for this company for the year ended 30 June 2020?

Reference no: EM133039343

Questions Cloud

Determine amount of overhead assigned to each product line : Suppose Keller uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line
What would be the net operating income : If the selling price increases by $2 per unit and the sales volume decreases by 100 units, what would be the net operating income
What amount would Perrymore report for Cash : Perrymore reports the following items related to the statement of cash flows: What amount would Perrymore report for Cash from operating activities
Prepare an adjusting journal entry on the loss of inventory : Prepare an adjusting journal entry on the loss of inventory costing RM700 detected based on the physical stock inspection on 30 April 2021
Make the statement of changes in equity for this company : The company issued 100,000 shares at $1.50 each during the year. Make the statement of changes in equity for this company
What is the future value : What is the future value of $1,200, placed in a savings account for four years if the account pays 7.00%, compounded Quarterly
Construct the base case projected P-L statement : Past experience indicates the population served will average two visits per year. Construct the base case projected P&L statement on the contract
What is the total cost of job : Question - Small Manufacturing Company has a standard overhead rate of $42 per hour. What is the total cost of job B-2
What is the minimum price that McElroy should charge : Production this quarter is 5,000 modules per week, and all of the modules produced are sold each week. What is the minimum price that McElroy should charge

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd