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Monty Corporation, a public company, reported the following balances at January 1, 2020: Common Shares (34,900 shares issued, unlimited authorized) $ 698,000 Retained Earnings 1,596,000
Monty Corporation, a public company, reported the following balances at January 1, 2020:
Common Shares (34,900 shares issued, unlimited authorized) | $ | 698,000 | |
Retained Earnings | 1,596,000 | ||
Contributed Surplus | 142,000 | ||
Accumulated Other Comprehensive Income | 35,400 |
During the year ended December 31, 2020, the following summary transactions occurred:
Net income earned during the year | $ | 354,000 | |
Unrealized gain on fair value through other comprehensive income (FV-OCI) investments | 21,000 | ||
Reduction of contributed surplus during the year due to repurchase of common shares | 19,000 | ||
Reduction of common shares account balance during the year due to repurchase of 1,400 common shares | 28,000 | ||
Dividends declared during the year on common shares | 75,000 | ||
Issued 1,900 common shares during the year | 95,000 |
Prepare a statement of changes in shareholders equity for the year as required under IFRS. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Share Capital R Number of Shares Legal Capital Other Contributed Capital E Bal. Jan. 1, 2020 $ $ Issued common shares Repurchase of shares Declared dividends Comprehensive income: Net income Unrealized gain-OCI Bal. Dec 31, 2020 $ HA $ $ Retained Earnings Accumulated Other Comprehensive Income Total $ $ $ GA $ $ $ 09 Prepare the shareholders' equity section of the SFP at December 31. MONTY CORPORATION Statement of Financial Position (Partial) $ $ $
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