The total of shareholders’ equity at 31 December 2019 was $45 500.
During the year ended 31 December 2020, the following took place.
1 An issue of 10 000 ordinary shares of $1 each at a premium of $0.25 was made.
2 A bonus issue of 5000 shares of $1 each was made.
3 Buildings were revalued from $250 000 to $265 000.
4 The profit for the year was $20 400.
5 There was a transfer to the general reserve of $6000.
6 The directors proposed a final dividend of $8000.
What was the balance of the shareholders’ equity at 31 December 2020?
1 )
$85400
2 )
$87400
$93400
4 )
$98400
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