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What is the equity balance on the june

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Reference no: EM132654744

Problem 1: Assume the opening balance of equity (01/07/2018) is $1,400,000. During 2018/19, there was a share issue of $540,000, dividends declared of $280,000 and a profit for the year of $710,000. What is the equity balance on the 30/06/2019?

a) $2,650,000
b) $2,370,000
c) $2,930,000
d) Not enough data to calculate the closing balance.

Reference no: EM132654744

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