A-LevelAccountingPreparation of financial statements9706/12 · Feb/Mar 2017 · Q191 Mark

The following information is given in the financial statements of a limited company. Ordinary shares $1200000; general reserve $120000; retained earnings $710000; 8% debentures $400000. What is the value of total equity?

A$1910000

B$2030000

C$2310000

D$2430000

✓ Correct answer

B: $2030000

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Feb/Mar 2017 Paper 1 Variant 2, question 19.

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