QUESTION 1Ngunzi Limited is a company that was incorporated in 2007. The company has the followingauthorised and issued share capital:Authorised share capital2 000 000 ordinary shares at R1 per share1 000 000 6% preference shares at R2 per share200 000 8% convertible preference shares at RO.50 per shareIssued share capital as at 1 January 2019200 000 ordinary R1 shares issued at R2 per share50 000 6% R2 preference shares issued at par100 000 8% RO.50 convertible preference shares issued at parAdditional information:On 1 January 2019 the balance of the share premium account was R30 000 and retained earningswas R675 000. The financial year-end of the company is 31 December.On 30 June 2019, an interim dividend of 20 cents per share was declared for the ordinaryshareholders.On 1 September 2019, Mr Ntebo, a sworn appraiser re-valued the building to be R450 000 greaterthan the current book valueOn 1 October 2019, 25% of the authorised 8% convertible preference shares were allotted toshareholders at R2.50 per share.At the end of the year, a final dividend of 40 cents per share was declared.The profit for the year was R534 000 and the tax rate is 28%.REQUIREDPrepare the statement of changes in equity for the year ended31 December 2019. The total column is not required.Show all calculations.1.1Communication skills – structure and layout

Name: QUESTION 1Ngunzi Limited is a company that was incorporated in 2007.
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Description: QUESTION 1Ngunzi Limited is a company that was incorporated in 2007. The company has the followingauthorised and issued share capital:Authorised share capital2 000 000 ordinary shares at R1 per share1 000 000 6% preference shares at R2 per share200

Statement of changes in equity is a part of financial statement showing the changes in level of…

Answered: Prepare the statement of changes in…

Business

Accounting

Prepare the statement of changes in equity for the year ended 31 December 2019. The total column is not required. Show all calculations.

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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