Available under Creative Commons-NonCommercial-ShareAlike 4.0 International License.
Relevant financial information for Dawson’s General Store Limited at January 1, 2016 is as follows:
During the year, total cash dividends of $30,000 were declared. $100,000 preferred dividends were in arrears at January 1, 2016. Net income for the year amounted to $200,000. 1,000 common shares were issued on September 28, 2016 for $100,000. 200 preferred shares were reacquired on December 31 for $1,400 and held as treasury shares.
Required: Prepare the statement of changes in equity for the year ended December 31, 2016 and the related note to the financial statements.
- 970 reads
