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O-LevelAccountingPreparation of financial statements7707/11 · May/June 2025 · Q241 Mark

R Limited provided the following information. [Table with data: 'At 1 January 2024: ordinary share capital $350000, retained earnings $46000, general reserve $37000', 'For year ended 31 December 2024: profit for the year $32000, dividends paid $20000']. What was the value of total equity at the end of the year?

This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.

A$408000
B$428000
C$445000
D$465000

✓ Correct answer

C: $445000

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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 2025 Paper 1 Variant 1, question 24.

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