The following are extracts from Beer’s ledger for the year ended December 31, 2017 $'000 Profit for the year 421 Dividend (98) 323 During the year the following important events took place: 1) Properties were revalued by $105,000 increase. 2) $200,000 equity shares of $1 were issued during the year at a 25c premium The opening equity balance were as follows: Issued capital 400 Share premium 50 Other components of equity 165 Retained earnings 310 925 Required: In accordance with IAS 1, prepare the statement of changes in equity for the year-ended 31 December 2017. Show all workings
The following are extracts from Beer’s ledger for the year ended December 31, 2017 $'000 Profit for the year 421 Dividend (98) 323 During the year the following important events took place: 1) Properties were revalued by $105,000 increase. 2) $200,000 equity shares of $1 were issued during the year at a 25c premium The opening equity balance were as follows: Issued capital 400 Share premium 50 Other components of equity 165 Retained earnings 310 925 Required: In accordance with IAS 1, prepare the statement of changes in equity for the year-ended 31 December 2017. Show all workings
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following are extracts from Beer’s ledger for the year ended December 31, 2017
$'000
Profit for the year 421
Dividend (98)
323
During the year the following important events took place:
1) Properties were revalued by $105,000 increase.
2) $200,000 equity shares of $1 were issued during the year at a 25c premium
The opening equity balance were as follows:
Issued capital 400
Share premium 50
Other components of equity 165
925
Required:
In accordance with IAS 1, prepare the statement of changes in equity for the year-ended 31
December 2017.
Show all workings
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education