Make the statement of changes in equity of Digital Ltd

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Question - The shareholders' equity section of the statement of financial position for Digital Ltd is as follows:

 

2020

2019

Share capital

$100,000

$80,000

General reserve

25,000

20,000

Revaluation reserve

37,000

30,000

Retained earnings

85,000

80,000

 

$247,000

$210,000

Additional information:

Digital Ltd issued shares at $1.25 each on 31 May 2020 for cash.

A transfer of $5 000 was made from retained earnings to the general reserve.

Comprehensive income for the year was $72 000, including a revaluation gain of $7 000.

Dividends for the year were: interim dividend $25 000; final dividend provided $30 000.

Required - Make the statement of changes in equity of Digital Ltd for the year ended 30 June 2020.

Reference no: EM132738411

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