O-LevelAccountingAccounting procedures7707/12 · May/June 2015 · Q241 Mark

A limited company provided the following information. $ January 1 ordinary shares of $1 each 200 000 retained earnings 12 000 December 31 profit for the year 43 000 transfer to general reserve 10 000 A dividend of 10% on ordinary shares was paid during the year. What were the retained earnings on 31 December?

A$13 000

B$23 000

C$25 000

D$35 000

✓ Correct answer

C: $25 000

Oracle Prep sorts past-paper questions by topic, so you can drill Accounting procedures and see which topics are most likely to come up next.

Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2015 Paper 1 Variant 2, question 24.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content