User Account

All Pages

Show the statement of changes in equity for each of the year

Assignment Help Financial Accounting
Reference no: EM132557658

Activate Ltd has an authorised capital of £600,000, comprising of 400,000 ordinary shares of £1 each and 200,000 6 per cent preference shares of £1 each. Of these, 300,000 ordinary shares and 140,000 preference shares had been issued when the company first started trading.

The following information is available:

  1. The company has a financial year end of 31 December. The first three years of business resulted in net profit as follows; 2015 £120,000; 2016 £190,000; 2017 £230,000.
  2. Dividends were paid each year on the preference shares. Dividends on the ordinary shares were proposed as follows: 2015 5 per cent; 2016 7 per cent; 2017 10 per cent.
  3. Transfers to reserves were: general reserve 2015 £20,000, 2016 £42,000, and foreign exchange reserve 2017 £32,000.

Question 1: You are to show the statement of changes in equity for each of the years 2015, 2016 and 2017.

Reference no: EM132557658

Questions Cloud

What are the two primary rules of debits : What do the terms 'debit' and 'credit' mean from an accounting perspective? What are the two primary rules of debits and credits
What should be the accounting treatment for the legal action : The management team believes that it is probable that the company will lose in court. What should be the accounting treatment for the legal action
Prepare the adjusting entries needed for the april bank : Prepare the adjusting entries needed for its April bank reconciliation: (Credit account titles are automatically indented when the amount is entered.
Compute the cost of closing inventory : Unfortunately, the seedlings would not last until the start of the 2008 planting season. Compute the cost of closing inventory for 2007
Show the statement of changes in equity for each of the year : Activate Ltd has an authorised capital of £600,000, Show the statement of changes in equity for each of the years 2015, 2016 and 2017.
Choose two of the big five personality traits : Choose a job that you are very familiar with or a job that you currently have, a job that you used to have, or the job
What is the amount and character of mr kents gains : Mr. Kent owns several small office buildings in which he rents space to various professionals. What is the amount and character of Mr Kents gains
Calculation of your caloric requirement : Do you feel you need to lose, gain or maintain your current weight? You may discuss this in terms of total body weight and/or body composition.
What ginger rogers should record : With respect to this financing lease, for 2019 Ginger Rogers should record? Interest expense of $31,358 and depreciation expense of $51,430.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the amount to withhold for federal income tax

Use the appropriate table to determine the amount to withhold for federal income tax from each of the following biweekly wages (biweekly withholding allowance = $153.80):

  What markup percent must be obtained on the balance of coats

A buyers plans to purchase $25,000 (retail) worth of children's coasts for a back to school sale. He has already purchased 180 coats that cost $45 each and will retail for $80 each. What markup percent must be obtained on the balance of coats in orde..

  Compute the equivalent units for direct materials

If Pitt Enterprises uses the FIFO method of process costing, compute the equivalent units for direct materials and conversion respectively for May

  None of the distribution is for partnership goodwill

Beth has an outside basis of $100,000 in the BTDE Partnership as of December 31 of the current year. On that date the partnership liquidates and distributes to Beth a proportionate distribution of $50,000 cash and inventory with an inside basis to th..

  Is issue action to be taken in regards to IFRS policy

Is issue one appropriate action to be taken in regards to IFRS policy and if so why? and for issue two what appropriate according to IFRS

  Developing his technology expense budget

P. White was developing his technology expense budget for 2014 and had been discussing with his team the necessity for outside computer consultants to assist with the installation and implementation of Z196 Cloud Management Software. Based on the tim..

  Reported a retained earnings balance

Flam Co. reported a retained earnings balance of $400,000 at December 31, 2014. In August, 2015, Flam determined that insurance premiums of $60,000 for the three-year period beginning January 1, 2014, had been paid and fully expensed in 2014. Flam ha..

  Solve the average days in inventory

Solve the average days in inventory. (Assume 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.)

  Determine the simple rate of return

Determine the simple rate of return on the new automated bottling machine.

  What are the ethical assurance positions

What are the ethical assurance positions to demonstrate an awareness of what constitutes unethical financial reporting and the impact of such activity?

  Prepare the consolidation adjustment entry

Prepare the consolidation adjustment entry/ies to deal with this transaction for the 30 June 2020 consolidation. Explain why it is necessary to make

  Computation of contribution margin ratio bep and margin of

computation of contribution margin ratio bep and margin of safety.aunt pittys pies is a small bakery that sells its

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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