O-LevelAccountingPreparation of financial statements7707/13 · Oct/Nov 2022 · Q231 Mark

A limited company provided the following information. non-current assets $35000 ordinary share capital $40 000 5% debentures $10000 net current assets $30 000 What were the retained earnings?

A$15000

B$25000

C$55000

D$115000

✓ Correct answer

A: $15000

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2022 Paper 1 Variant 3, question 23.

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