Question
QUESTION #4 Instructions: Prepare a statement of changes in equity for the year. COMPANY INFO : On January 1, 2017, Chamlin AG had the following
| QUESTION #4 Instructions: Prepare a statement of changes in equity for the year. |
| COMPANY INFO: On January 1, 2017, Chamlin AG had the following equity balances. Share Capital-Ordinary (400,000 shares issued) 800,000 Share Premium-Ordinary .. 500,000 Ordinary Share Dividends Distributable .. 120,000 Retained Earnings . 600,000 During 2017, the following transactions and events occurred Issued 60,000 2 par value ordinary shares as a result of 15% share dividend declared on December 15, 2016. Issued 25,000 ordinary shares for cash at 4 per share. Purchased 22,000 ordinary shares for the treasury at 5 per share. Declared and paid a cash dividend of 111,000. Sold 8,000 treasury shares for cash at 5 per share. Earned net income of 360,000. |
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| CHAMBLIN AG Statement of Changes in Equity For the Year Ended December 31, 2017 | ||||||||||||
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| Share CapitalOrdinary |
| Share Premium Ordinary |
| Ordinary Share Dividends Distributable |
| Treasury Shares |
| Retained Earnings |
| Total |
| Balances, Jan. 1 |
| 800,000 |
| 500,000 |
| 120,000 |
| 0 |
| 600,000 |
| 2,020,000 |
| Issued 60,000 shares for share dividend |
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| Issued 25,000 shares for cash |
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| Purchased 22,000 treasury shares |
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| Declared cash dividend |
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| Sold 8,000 treasury shares |
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| Net income for year |
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| Balances, Dec. 31 |
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