The following information relating to Mount Athos Ltd has been obtained from balance sheet as at 30
Question:
The following information relating to Mount Athos Ltd has been obtained from balance sheet as at 30 June 2018.
Share capital | $1 600 000 |
General reserve | 492 000 |
Retained earnings | 880 000 |
In addition to the above, it is noted that during the year ended 30 June 2019:
(a) 100 000 shares were issued at $1.5 per share
(b) comprehensive income after taxation was $631 000
(c) an interim dividend of $128 000 was paid together with a final dividend of $175 000
(d) $85 000 was transferred from the retained earnings account to the general reserve.
Required
Prepare a statement of changes in equity for Mount Athos Ltd for the reporting period ended 30 June 2019.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Share Capital Ordinary Retained Earnings General Re...View the full answer
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
