Answered step by step
Verified Expert Solution
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started