Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The total equity of Kava Ltd at 31 December 2020 amounted to 7,690,000. During the financial year ended 31 December 2021, the company: Successfully issued

The total equity of Kava Ltd at 31 December 2020 amounted to 7,690,000. During the financial year ended 31 December 2021, the company:

Successfully issued 100,000 new ordinary shares with a par (or nominal) value of 50p each, at an issue price of 3.80 per share. Revalued freehold land from its original cost of 340,000 to its fair value of 900,000.

Reported a profit for the year of 470,000

. Paid ordinary dividends totalling 220,000.

Based on the above, what is the total equity of the company as at 31 December 2021

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Financial Accounting

Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel

3rd Edition

0730302296, 978-0730302292

More Books

Students also viewed these Accounting questions