Exercise 13.20 Options, shares, dividends, reserves The statement of changes in equity for Salmon Ltd for the year ended 30 June 2020 was as shown below. SALMON LTD Statement of changes in equity for the year ended 30 June 2020 $ 69 420 $ 69 420 $300 000 80000 2500) 222 000 170 000 20000 $779 500 $ 24000 20 000 14000 Profit for the year Other comprehensive income Total comprehensive Income for the year Movements in equity for the year ended 30 June 2020 were: Share capital Balance at 1 July 2019 Issue of 40000 ordinary shares @ $2.00 Share issue costs public issue Issue of 80 000 ordinary shares @ $2.00 to public Issue of 50 000 ordinary shares o $3.00 on exercise of options costing 40c Calls in advance on issue of 80 000 shares @ $2.90 to public Balance at 30 June 2020 Options Balance at 1 July 2019 Transfer to share capital on exercise Transfer to reserve on lapse Balance at 30 June 2020 General reserve Balance 1 2019 Bonus of shares Transfer from retained earnings Balance at 30 June 2020 Options reserve Balance at 1 July 2010 Transfer of lapoed options Balance at 30 June 2020 Retained earnings Balance at 1 July 2019 Dividends declared Dividends paid Transfer to general reserve Profit for the period Balance at 30 June 2020 $110000 (80000 30 000 $ 60000 4000 4000 $ $75 000 18000 00000 $102 420 Required Provide journal entries in relation to: 1. issue of shares on exercise of options, and related transfers to/from reserves 2. issue of shares to public 3. dividends 4. movements in general reserve. Note: None of the entries should contain the account Retained Earnings. (LO6 and LO8)