Paper 1 October/November 2018 Accounting (9706/11) A Level

A company’s statement of financial position at the beginning of the financial year on 1 January is shown.
The profit for the year ended 31 December was $680 000.
During the year, the following took place:
- an issue of 500 000 ordinary shares of $1 each at a price of $2.50 each
- an upward revaluation of non-current assets of $250 000