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Example Table Changes in Equity

T. Galang Corporation issued additional ordinary and preference shares in January 2019 which increased share capital and share premium. In July 2019, the company declared cash dividends on ordinary and preference shares and purchased treasury stock. By the end of the year, net income increased retained earnings and total shareholders' equity.

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220 views

Example Table Changes in Equity

T. Galang Corporation issued additional ordinary and preference shares in January 2019 which increased share capital and share premium. In July 2019, the company declared cash dividends on ordinary and preference shares and purchased treasury stock. By the end of the year, net income increased retained earnings and total shareholders' equity.

Uploaded by

Sam V
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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T.

Galang Corporation

Statement of Changes in Shareholders’ Equity

For the Year Ended December 31, 2019

Preference Ordinary Share Premium Share Premium Unappropriate Appropriated Treasury Total
Shares, 100 par Shares, 5 par - Ordinary - Preference d Retained Ordinary
Retained Earnings Shares
Earnings
Balance, 200,000 250,000 450,000
1/1/2019
Issuance of 50,000 200,000 250,000
Ordinary
Shares, Jan.
15
Issuance of 100,000 10,000 110,000
Preference
Shares, Jan.
15
Organization 10,000 50,000 60,000
Expense
incurred in
exchange for
shares
Purchase of (10,000) (10,000)
Treasury
Stock
July 1, (50,000) (50,000)
Declaration
of Cash
Dividends on
Ordinary
July 1, (160,000) (160,000)
Declaration
of Cash
Dividends on
Preference
Sept. 1, 10% 200,000 60,000 (260,000)
Small Share
Dividend on
Preference
Shares
Dec. 31, Close 200,000 200,000
income
summary
account
Balance, Dec. 300,000 310,000 450,000 70,000 (270,000) (10,000) 850,000
31

T. Galang Corporation
Statement of Changes in Shareholders’ Equity
For the Year Ended December 31, 2019
Share Capital
8% Preference shares, ₱ 100 par, 20,000 300,000
shares authorized, 3,000 shares issued,
and outstanding
Ordinary shares, ₱ 5 par, 50,000 shares 60,000 360,000 360,000
authorized, 12,000 shares issued, and
11,500 shares outstanding
Share Premium
Preference Shares 60,000
Ordinary Shares 250,000 310,000
Total Share Capital 670,000
Retained Earnings (270,000)
Total Share Capital and Retained Earnings 400,000
Less: Treasury Stock – Ordinary, 500 (10,000)
shares, at 20 cost per share
Total Shareholders’ Equity 390,000

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