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Cold Ltd had the following transactions and events occur in the year ended 30 June 2021: paid an interim dividend of $8,000 paid the 30
Cold Ltd had the following transactions and events occur in the year ended 30 June 2021:
- paid an interim dividend of $8,000
- paid the 30 June 2020 final dividend declared of $12,000
- transferred $15,000 from the asset revaluation reserve to the general reserve
- closed loss for the year of $9,000
Assuming the balance in retained earnings on 1 July 2020 was $68,000, Cold Ltd should report a balance for retained earnings in the statement of financial position for the year end 30 June 2021 of:
a.
$24,000.
b.
$69,000.
c.
$51,000.
d.
$39,000.
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