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O-LevelAccountingPreparation of financial statements7707/12 · May/June 2014 · Q241 Mark

RST Limited provided the following information. $ retained profits at 1 January 2013 200000 general reserve at 1 January 2013 48000 profit for the year ended 31 December 2013 102000 ordinary share dividends paid 24000 transfer to general reserve 20000 What was the value of retained profits at 31 December 2013?

A$58000
B$142000
C$258 000
D$306 000

✓ Correct answer

C: $258 000

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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, May/June 2014 Paper 1 Variant 2, question 24.

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