STATEMENT OF CHANGES IN EQUITY

Question 1

PAT(PROFIT AFTER TAX) GOES TO Retained Earnings

Rev surplus goes to reval surplus in statement of changes in equity

Question 2

if cash and bonus share dividends come together

Answer 2

First pay cash divident then share because if share is paid first they may come right after taking it to claim cash dividend

Question 3

Entries of cash dividend and share or bonus dividend

Answer 3

cash dividend
R.E dr
Dividend payable Cr

bonus or share dividend
R.E dr
share capital Cr

Question 4

1 . Transfer of loss has no entry

2 . Revaluation surplus arose during year goes to oci in comprehensive income

3 . palce for transfer of rev surplus to retained earnings is changes in equity statement

Question 5

interim dividend —– Same year

Final Dividend —– Next year

Question 6

acc profit, unappropriated profit, retained earnings are the same