Calculate ending equity if opening paid in capital (share capital) was $100,000 and retaining earnings were $10,000, but during the year recorded an after-tax profit of $30,000 and no dividends were paid out and no share activity took place. Record ending paid-in capital, retained earnings and total equity separately

Answer rating: 100% (QA)

To calculate the ending equity we need to consider the changes in paidin capital share capital retai... View the full answer