Question
The shareholders equity section of the statement of financial position for WingIt Ltd is as follows: 2029 2028 Share Capital 315,000 240,000 General Reserves 75,000
The shareholders equity section of the statement of financial position for WingIt Ltd is as follows:
|
| 2029 | 2028 |
| Share Capital | 315,000 | 240,000 |
| General Reserves | 75,000 | 60,000 |
| Revaluation Reserves | 111,000 | 90,000 |
| Retained Earnings | 255,000 | 240,000 |
|
| 756,000 | 630,000 |
Additional information:
WingIt Ltd issued shares at $3.75 each on 31 May 2029 for cash.
Comprehensive income for the year was $216,000, including a revaluation gain of $21,000.
Dividends for the year were as follows: interim dividend $75,000 and the final dividend provided $90,000.
A transfer of $15,000 was made from the retained earnings account to the general reserve.
Prepare the statement of changes in equity of Winglt Ltd for the year ended 30 June 2029.
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Security Audit And Control Features Oracle E Business Suite
Authors: Deloitte Touche Tohmatsu Research Team And Isaca
3rd Edition
1604201061, 978-1604201062
