O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2012 · Q261 Mark
A limited company provided the following information. 1 January ordinary shares of $1 each $200 000 1 January retained earnings $12 000 31 December profit for year $43 000 transfer to general reserve $10 000 A dividend of 10% on ordinary shares was paid during the year. What was the total of the retained earnings on 31 December?
A$13 000
B$23 000
C$25 000
D$35 000
✓ Correct answer
C: $25 000
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