Below is a partially completed statement of changes in equity for Torino Capital Ltd. (in thousands of
Question:
Below is a partially completed statement of changes in equity for Torino Capital Ltd. (in thousands of dollars).
Required:
Complete the statement of changes in equity to reflect the transactions and events described.
Transcribed Image Text:
Balance at 1 January 20X1 Comprehensive income, including earnings of $871 and foreign exchange on subsidiary, a gain of $39 Common shares issued for cash of $788 Preferred shares bought back; 10% of opening balance bought back for cash; paid $85 more in total than average issue price Cash dividends to shareholders; $170 to preferred and $367 to common Fractional shares turned in for common (80% of fractional rights); remainder are still outstanding Balance at 31 December 20X1 Fractional Preferred Common Shares Retained Shares Shares Outstanding Earnings $240 $3,000 $7,400 $6,780 AOCI Foreign Exchange Gains of Foreign Total Subsidiary Equity $451 $17,871
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Related Book For
Intermediate Accounting Volume 2
ISBN: 9781260881240
8th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel
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