The following is an extract from the statement of changes in equity of Blue Dot $($Pty$)$

Ltd for the year ending $31$ December $2022$:

Ordinary

shares

R

Retained

earnings

R

Revaluation

surplus: PPE

R

Balance at $31$ December $202220000**32000100000$

$**$ Represented by $100,000$ issued shares.

The following transactions occurred during Blue Dot $($Pty$)$ Ltd$$s $2023$ financial year:

$$ The company realized a profit before tax of R$27000$ and a total comprehensive

income of R$29000.$ You can assume that the total amount relating to other

comprehensive income is attributable to the revaluation of assets.

$$ The company had a tax expense of R$8000.$

$$ An interim dividend of $50$ cents per share was declared and paid on $30$ June $2023.$

$$ On $1$ August $2023,$ the company issued a further $5000$ shares at R$1$ each.

$$ A final dividend of $25$ cents per share was declared by the directors on $31$

December $2023.$

$$ Due to the sale of one of the company$$s revalued assets, R$50000$ of the

revaluation surplus was transferred to retained earnings.

$$ An error affecting the $2022$ financial year was picked up and the effect of the error

is that the opening retained earnings for $2023$ had to decrease with R$120000.$

$$ You can assume that these are the only transactions that occurred which had an

effect on the elements included in the statement of changes in equity and you can

further assume that the elements listed above are the only elements that make up

the equity of Blue Dot $($Pty$)$ Ltd$.$

ANNEXURE F: FORMATIVE ASSESSMENT $1$

$65$ HFAC$231-1-$Jan$-$Jun$2024-$FA$1-$CP$-$V$2-04122023$

REQUIRED:

$2\mathrm{.}1)$ Prepare the Statement of Change in Equity of Blue Dot $($Pty$)$ Ltd for the year

ended $31$ December $2023$ in compliance with the requirements of International

Financial Reporting Standards.

All amounts should be rounded to the nearest Rand. Show all calculations

clearly.

Comparative figures and a Total column to your statement are not required.

$(24$ marks$)$