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%
-The statement of changes in equity includes four sections: share capital, contributed surplus, retained earnings and total other comprehensive income/ (loss) for the year.

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%
-The statement of changes in equity includes four sections: share capital, contributed surplus, retained earnings and total other comprehensive income/ (loss) for the year.

Quizplus · Accepted Answer

The statement of changes in equity typically includes sections for share capital, contributed surplus, retained earnings, and other comprehensive income/(loss), reflecting changes in these equity components over a reporting period.

Cost of the Asset$100,000