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At the beginning of 2018, the AKS Company Limited showed the following amounts in the shareholders equity section of its balance sheet. Particulars -----Rs--- Common

At the beginning of 2018, the AKS Company Limited showed the following amounts in the shareholders equity section of its balance sheet.

Particulars

-----Rs---

Common Shares, Rs.10 par value, 380,000 shares issued

3,820,000

Share Premium account

4,202,000

Total Paid-in-Capital

4,584,000

Retained Earning

2,704,600

Total Shareholders Equity

7,288,600

The following transactions were taken place during 2019:

  1. January 03: Declared a dividend of Rs.2.00 per share and payable on February 15, 2019.
  2. February 15: Buy 10,000 shares and recorded as Treasury Stock at price of Rs.44 per share
  3. June 30: Net Income for the year 2019 was Rs.1,928,000 and would be close to retained earning.

Required: Prepare Statement of changes in Equity for the year ended June 30, 2019. (8 Marks)

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