Gold Ltd had the following equity accounts at 1 July 2014: During the year ended 30 June

Question:

Gold Ltd had the following equity accounts at 1 July 2014:

During the year ended 30 June 2015, the following occurred:

1. A profit of $40 000 was generated.

2. $8000 was transferred to the general reserve.

3. An interim dividend of 4c per share was declared and paid.

4. A final dividend of 6c per share was declared.

Required

Prepare a statement of the changes in retained earnings.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting Reporting Analysis And Decision Making

ISBN: 9780730313748

5th Edition

Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong

See More Books

Question Posted: Sep 09, 2022 01:49 AM

See More Questions

Speedy Deliveries Ltd had the following equity accounts at 1 January 2015: During the year ended 31 December 2015, the following occurred: 1. A profit of $20 000 was generated. 2. $5000 was...
During the year ended 30 June 2020, Marias restaurant kitchen caught fire. As a result of the fire she received the following amounts: Insurance recovery to replace lost cool room $12,000 Insurance...
During the year ended 30 June 2019 XYZ Pty Limited, a resident Australian private company (non BRE), received a franked dividend of $10,800 with $3,200 of attached franking credits. XYZ Pty Limited...
Define price and name the various types of prices described in this chapter.
In the past, the members of OPEC have been able to raise the relative price of petroleum by a large amount with a relatively small decrease in export volume, thereby increasing substantially the...
Distinguish between an atom and an element.
Define the functional currency, and identify factors suggesting the functional currency. AppendixLO1
Steelcase Inc. is one of the largest manufactures of office furniture in the United States. In Grand Rapids, Michigan, it produces filing cabinets in two departments: Fabrication and Trim Assembly....
The following financial information is for Crane Company. CRANE COMPANY Balance Sheets December 31 Assets 2022 2021 Cash $ 71,000 $ 69,000 Debt investments (short-term) 50,000 41,000 Accounts...
The production schedule at Mazda calls for 1,200 Mazdas to be produced during each of 22 production days in January and 900 Mazdas to be produced during each of 20 production days in February Mazda...
At 1 July, TriTop Ltd had 1500 shares issued. An interim cash dividend of $0.25 per share was declared on 31 December and paid on 31 January. The shareholders agreed to a 3-for-1 share split, which...
What conditions in Australia and in New Zealand must be met before a cash dividend is paid?
Which of the following statements is correct concerning letters for underwriters, commonly referred to as comfort letters? a. Letters for underwriters are required by the Securities Act of 1933 for...
Verify the results of Eq. (14.48) for the properties of the chiral projection operators. Data from Eq. 14.48 P = P+ P+ + P = 1 P_P+ P+P = 0 Py" = y P
Prove that the estimating equations in (11.13) are unbiased under MCAR, but are generally biased without the stringent MCAR assumption. (x) [y - f (xt;)] = 0, i=1 (11.13)
Refer to Figure 11.5: Which is the most expensive subcontract for this project? How much were the costs for the general contractor's crews for item 4? Figure 11.5 Division 1 2 3 4 5 6 7 Work Gen'l...
a. Using observations on the change in consumption $D C_{t}=C_{t}-C_{t-1}$ and the change in income $D Y_{t}=$ $Y_{t}-Y_{t-1}$ from 1959Q3 to 2015Q4, obtained from the data file cons_inc,...
Water at $20^{\circ} \mathrm{C}$ flows by gravity from a large reservoir at a high elevation to a smaller one through a 35-m-long, 5-cm-diameter cast iron piping system that includes four standard...
Evaluate the following limits. , x lim + 5 ,
A glass manufacturer produces hand mirrors. Each mirror is supposed to meet company standards for such things as glass thickness, ability to reflect, size of handle, quality of glass, color of...
What are the major types of knowledge work systems , and how do they provide value for firms? a. Define knowledge work systems and describe the generic requirements of knowledge work systems. b....
What are the business benefits of using intelligent techniques for knowledge management? a. Define an expert system, describe how it works, and explain its value to business. b. Define case-based...
What are the different types of decisions, and how does the decision-making process work? a. List and describe the different levels of decision making and decision-making constituencies in...
Lakeland Inc. manufactured 2,500 units during the month of March. They incurred direct materials cost of $58,000 and overhead costs of $40,000. If their per-unit prime cost was $32.00 per unit, how...
Present Value Computations Using the present value tables, solve the following. ( Click here to access the PV and FV tables to use with this problem. ) Round your answers to two decimal places....
A company provided the following data: Sales $887,000 Variable costs $546,800 Fixed costs $310,000 Expected production and sales in units 36,000 What is the break-even point in sales dollars? Please...

Gold Ltd had the following equity accounts at 1 July 2014: During the year ended 30 June

Question:

Step by Step Answer:

Answer Gold Ltd Statement of Changes in Retained Earnings for the year ended 30 June 2015 O...View the full answer

Financial Accounting Reporting Analysis And Decision Making

Students also viewed these Business questions