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Prepare the company statement of changes in equity

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Reference no: EM132538832

At 30 June 2015, Vincon Ltd reported the following shareholders' equity:

Share Capital, 100,000

ordinary shares issued $800,000

Retained Earnings $850,000

Total $1,650,000

During year ending June 2016, Vincon Ltd completed the following transactions and events:

a) Split the ordinary shares 2 for 1 to decrease the market price of its shares.

b) Transferred $450,000 to general reserves.

c) Issued 5,000 ordinary shares to employees at $15 per share.

d) Declared & paid cash dividends of $65,000

e) Profit for the year was $315,000

Required:

Question 1: Prepare the company's statement of changes in equity for the year ending June 2016.

Reference no: EM132538832

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