The following is an extract from a statement of changes in equity. ordinary share general retained share capital premium reserve earnings $ $ $ $ balance at the 75000 15000 3000 45000 start of the year During the year the following occurred. 1 An interim dividend of $4875 was paid. 2 A final dividend of $6000 was proposed. 3 $2500 was transferred to the general reserve. What was the balance of retained earnings at the end of the year?

A business maintains a provision for doubtful debts of 5% per annum. It has trade receivables balances of $560000 at …

An inexperienced bookkeeper calculated a draft profit for the year ended 31 December 2015 of $578 500. He had not acc…

A business makes up its financial statements to 30 April each year. Included in the ledger account balances on 1 May …

Omar wishes to become a trader. He decides to buy an existing business in a good location. He pays more for the busin…

A sales ledger control account was prepared. An irrecoverable debt of $40 was omitted and a discount allowed of $68 w…

The trial balance totals are as follows: debit $500 150 credit $500 000 Which error could have caused the difference?