ABC Ltd is preparing its statement of changes in equity for the year ended 31 December 20X8. The opening share capital balance in the statement of changes in equity was £50,000, comprising 50,000 £1 equity shares which were issued at a premium of £0.25 per share. The following balances and transactions arose in the year: (1) ABC Ltd issued 10,000 £1 equity shares at price of £0.85 per share on 1 July 20X8; (2) ABC Ltd made a bonus issue on 1 October 20X8 of 5,000 £1 equity shares utilising retained earnings; (3) It paid a dividend totalling of 10p per share to all shareholders on 31 December 20X8. What was the closing balance of share capital in the statement of changes in equity at 31 December 20X8?
ABC Ltd is preparing its statement of changes in equity for the year ended 31 December 20X8. The opening share capital balance in the statement of changes in equity was £50,000, comprising 50,000 £1 equity shares which were issued at a premium of £0.25 per share. The following balances and transactions arose in the year: (1) ABC Ltd issued 10,000 £1 equity shares at price of £0.85 per share on 1 July 20X8; (2) ABC Ltd made a bonus issue on 1 October 20X8 of 5,000 £1 equity shares utilising
Statement of changes in equity is a statement which shows all changes made in the equity balances like share capital and share premium during the particular period.
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