Cost of the asset$100,000
Life of the asset 5 years
Depreciation rate20%
Capital cost allowance rate 50%
Residual value of the asset nil
Income tax rate 50%
-What sections are included in the statement of changes in equity?

Question

Cost of the asset$100,000 
Life of the asset 5 years 
Depreciation rate20% 
Capital cost allowance rate 50% 
Residual value of the asset nil 
Income tax rate 50%
-What sections are included in the statement of changes in equity?

Quizplus · Accepted Answer

The statement of changes in equity typically includes sections for share capital and retained earnings, reflecting changes in equity from transactions with owners (like issuing new shares) and the company's profit or loss activities, respectively.

Cost of the Asset$100,000