You have been provided with the following information on Stark Industries Ltd, a company with a...

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You have been provided with the following information on Stark Industries Ltd, a company with a 31 December year end. 1. On 1 January 2023, the company had a share capital balance of R100 000 and retained earnings of R40 000. 2. 3. 4. 5. 6. Stark Industries Ltd had a revaluation surplus opening balance of R50 000 on 1 January 2023. During the year, the company revalued its property resulting in an increase in the revaluation surplus by R30 000. • This was the only revaluation that took place for the year. The company did not dispose of any of its assets during the year. During the year, Stark Industries Ltd issued additional shares for R20 000. The company had a net profit of R65 000 for the year. The directors declared a dividend of R5 000 during the year. The owner of the company withdrew R10 000 from the company for personal use. REQUIRED: Prepare the Statement of Changes in Equity for Stark Industries Ltd for the year ended 31 December 2023 considering the above transactions (1-6). You have been provided with the following information on Stark Industries Ltd, a company with a 31 December year end. 1. On 1 January 2023, the company had a share capital balance of R100 000 and retained earnings of R40 000. 2. 3. 4. 5. 6. Stark Industries Ltd had a revaluation surplus opening balance of R50 000 on 1 January 2023. During the year, the company revalued its property resulting in an increase in the revaluation surplus by R30 000. • This was the only revaluation that took place for the year. The company did not dispose of any of its assets during the year. During the year, Stark Industries Ltd issued additional shares for R20 000. The company had a net profit of R65 000 for the year. The directors declared a dividend of R5 000 during the year. The owner of the company withdrew R10 000 from the company for personal use. REQUIRED: Prepare the Statement of Changes in Equity for Stark Industries Ltd for the year ended 31 December 2023 considering the above transactions (1-6).

Answer rating: 100% (QA)

Introduction Stark Industries Ltds Statement of Changes in Equity for the year ended 31 December 2023 reflects the dynamic interplay between the compa... View the full answer