ABC Tech Ltd. has released its financial statements for the fiscal year ended December 31, 2023. The company's Statement of Changes in Equity indicates the following components: Beginning Share Capital: $500,000 New Issuance of Shares: $100,000 Retained Earnings at the Beginning of Year: $200,000 Net Income for the Year: $150,000 Dividends Declared: $50,000 Based on the provided data, what will be the total equity at the end of the fiscal year?

Exam

CFA Level 1

Section

Difficulty

Financial Reporting and Analysis

Calculating Total Equity from Statement of Changes in Equity

Hard Financial Statements Statement Of Changes In Equity

ABC Tech Ltd. has released its financial statements for the fiscal year ended December 31, 2023. The company's Statement of Changes in Equity indicates the following components:

Beginning Share Capital: $500,000
New Issuance of Shares: $100,000
Retained Earnings at the Beginning of Year: $200,000
Net Income for the Year: $150,000
Dividends Declared: $50,000

Based on the provided data, what will be the total equity at the end of the fiscal year?

Total equity will be $800,000.

Total equity will be $900,000.

Total equity will be $850,000.

Hint

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