On 6 April 2004 a company paid a final dividend of $7000 in respect of its financial
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On 6 April 2004 a company paid a final dividend of $7000 in respect of its financial year ended 31 December 2003. On 1 October it paid an interim dividend of $5000 in respect of the year ending 31 December 2004. The Balance Sheet at 31 December 2004 included a current liability of $10 000 for dividend payable.
How much has been debited for dividends in the Profit and Loss Account for the year ended 31 December 2004?
A. $12 000
B. $15 000
C. $17 000
D. $22 000
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