question archive Prepare the contents of the statement of changes in equity for 2019 and 2020 following the format below
Subject:AccountingPrice: Bought3
and 2020 following the format below. An excerpt from the statement of changes in equity for December 31, 2019, is provided below:
Share Retained AOCI TOTAL
capital Earnings Fv-OCI
Opening—Jan 1, 2019 $1,220,000 $3,050,000 $793,000 $5,063,000
Comprehensive income 0- 1,110,200 579,500 1,689,700
Closing Dec31, 2019 $1,220,000 $4,160,200 $1,372,500 $6,752,700
For 2020, net income is $1,647,000 and other comprehensive income is $183,000 (relating to the change in value of the FV-OCI Investment during 2020).
There were no shares issued or repurchased during the year. There are no other changes to the equity accounts for 2020.
Fill out amounts at X (empty) place.
Share Retained AOCI Revaluation Total
capital earnings Surplus
Balance Jan 1, 2019 X X X X X
CI- as restated X X X X X
Bal Dec 31, 2019
as restated X X X X X
Balance Jan 1,2020 X X X X X
as restated
CI 2020 X X X X X
Balance Dec 31, 2020 X X X X X