Question
The opening balances on the Statement of Changes in Equity for Twatasha limited company as at 1 January 2020, was as follows: Share Capital K
The opening balances on the Statement of Changes in Equity for Twatasha limited company as at 1 January 2020, was as follows:
| Share Capital K | Share premium K | Retained earnings K | Revaluation surplus K | Total
K |
| 500,000
| 300,000 | 225,000 | 120,000 | 1, 145,000
|
The following information was known as at 31 December 2020:
10,000 K1 shares had been issued on 1 June 2020 at a premium of K1.40
Retained earnings for the year after dividends of K20, 000 were K35, 200.
Land was revalued upwards by 45, 000 during the year.
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External Auditing Tutorial
Authors: Jo Osborne, John Taylor
1st Edition
9781909173965, 1909173967
