The general ledger of Val d'Or Corporation contains the following selected accounts and information:

1. Cash

2. Common shares

3. Other comprehensive income-Revaluation gain from revaluing property, plant, and equipment to fair value

4. Long-term investments

5. Preferred shares

6. Retained earnings

7. Gain on disposal

8. Cash dividends

9. Stock split

10. Stock dividends distributable

Instructions

Indicate whether each of the above accounts should be reported in the statement of changes in equity. If yes, indicate whether the account should be reported in the share capital, retained earnings, or accumulated other comprehensive income section of the statement. If not, indicate in which financial statement (statement of financial position or income statement) and in which section the account should be reported or write NE (no effect), if the statement is not affected. The first account has been done for you as an example.

Transcribed Image Text:

Statement of Changes in Equity Accumulated dur Other Share Retained Comprehensve FInancial Account Captal Earnings IncomeStatement Clasfcaton Current assets 1. Cash NE NE NE Statement of financial position