Manet plc had the following share capital and reserves as at 1 January 2009: m Share capital
Question:
Manet plc had the following share capital and reserves as at 1 January 2009:
£m
Share capital (£0.25 ordinary shares)...........................250
Share premium account..................................................50
Revaluation reserve......................................................120
Currency translation reserve...........................................15
Retained earnings.........................................................380
Total equity....................................................................815
During the year to 31 December 2009, the company revalued property, plant and equipment upwards by £30 million and made a loss on foreign exchange translation of foreign operations of £5 million. The company made a profit for the year from normal operations of £160 million and the dividend was £80 million.
Prepare a statement of changes in equity in accordance with the requirements of IAS 1 Presentation of Financial Statements.
DividendA 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...
Step by Step Answer:
Financial Accounting for Decision Makers
ISBN: 978-0273763451
6th Edition
Authors: Peter Atrill, Eddie McLaney