A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2022 · Q191 Mark
X Limited recorded the following information in its books of account. 1 issue of 10000 ordinary shares of $1 each at a price of $1.80 2 payment of dividends, $6200 3 transfer to general reserve, $7500 What was the effect on total revenue reserves?
A$6200 decrease
B$6700 increase
C$8000 increase
D$13700 decrease
✓ Correct answer
A: $6200 decrease
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