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O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2019 · Q271 Mark

A company had retained earnings of $3600 on 1 July 2018. The profit for the year ended 30 June 2019 was $20000. An interim ordinary share dividend of $2000 was paid and a transfer was made to general reserve. The retained earnings on 30 June 2019 amounted to $15600. How much was transferred to general reserve?

A$2400
B$4400
C$6000
D$18000

✓ Correct answer

C: $6000

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About this question

Topic
Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2019 Paper 1 Variant 1, question 27.

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