Al Jazeera LLC has issued 50,000 ordinary shares of OMR 0.500 baisa each and 20,000 5% preference shares of OMR1 each. Its profits before taxation for the year 2019 were OMR15,000. The directors have decided to pay OMR 4,000 as ordinary dividend. The company's tax for the year is OMR5000. Calculate the retained profit of the company.
Al Jazeera LLC has issued 50,000 ordinary shares of OMR 0.500 baisa each and 20,000 5% preference shares of OMR1 each. Its profits before taxation for the year 2019 were OMR15,000. The directors have decided to pay OMR 4,000 as ordinary dividend. The company's tax for the year is OMR5000. Calculate the retained profit of the company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Al Jazeera LLC has issued 50,000 ordinary
shares of OMR 0.500 baisa each and 20,000
5% preference shares of OMR1 each. Its
profits before taxation for the year 2019 were
OMR15,000. The directors have decided to
pay OMR 4,000 as ordinary dividend. The
company's tax for the year is OMR5000.
Calculate the retained profit of the company.
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