QUESTION $3(15$ marks$)$

Elsie Wines $($Pty$)$ Ltd $($Elsie Wines$)$ is a wine farm in South Africa. Elsie Wines has a $30$

November financial year$-$end.

You are provided with the following information about Elsie Wines for the year ended $30$

November $2024$:

$$ At the beginning of the year, the company had a share capital of R$100000$ Class

A shares and a retained earnings balance of R$55000.$

$$ During the year, the company issued additional Class A shares for R$20000$ and

new Class B shares for R$60000.$

$$ The company had a net profit of R$45780$ for the year.

$$ The directors declared a dividend of R$15250$ during the year.

$$ The owner of the company took wines for personal use at a cost price of R$5950$

from the company.

$$ Elsie Wines had an opening balance of revaluation surplus of R$65000$ on $1$

December $2023.$ During the year, the company revalued its land resulting in a

revaluation loss of R$15000.$ The company did not dispose of any of its assets

during the year. This was the only revaluation that took place during the year.

REQUIRED:

Prepare the Statement of Change in Equity of Elsie Wines $($Pty$)$ Ltd for the year ended

$30$ November $2024.$

$$ Include all necessary headings and sub$-$headings in your statement.

$$ Provide workings where necessary.

$$ Total columns are not necessary.

$$ Ignore taxation.

$(15$ marks$)$