O-LevelAccountingAccounting procedures7707/11 · May/June 2021 · Q221 Mark

X Limited started the year with an ordinary share capital of $100000. An ordinary share dividend of $3000 was paid during the year. Later a further $10000 of ordinary shares were issued. The profit for the year was $8000. By how much had equity increased at the end of the year?

A$7000

B$10000

C$15000

D$18000

✓ Correct answer

C: $15000

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2021 Paper 1 Variant 1, question 22.

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