Asda Ltd purchased shares of Simon plc. As of 30 June 2019, E50,000 was the Equity-Pald op Capital. Below are the key details: Acquired 10,000 shares on 30h June 2019 at ES Fair Value of Shares on 30th June 2020 was £8 Fair Value of Shares on 30th June 2021 was £7 All Shares were Sold on 30h June 2021. Tax Rate is 20%. You are required to Prepare Statement of Comprehensive Income and Statement of Changes in Equity (Both Extracts) for the Year ending 30h June 2021. Also show the Calculation of Gains.

Asda Ltd purchased shares of Simon plc. As of 30 June 2019, E50,000 was the Equity-Pald op Capital. Below are the key details: Acquired 10,000 shares on 30h June 2019 at ES Fair Value of Shares on 30th June 2020 was £8 Fair Value of Shares on 30th June 2021 was £7 All Shares were Sold on 30h June 2021. Tax Rate is 20%. You are required to Prepare Statement of Comprehensive Income and Statement of Changes in Equity (Both Extracts) for the Year ending 30h June 2021. Also show the Calculation of Gains.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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