Profit and loss Appropriation Account for the year ended 31 July 2020 of the Close Corporation (CC) as follows: particulars Amount in R Profit after remuneration of members R940 000 Less : income tax of the year (R260 000) Profit after income tax Less : distribution of profit (R135 000) [ R45 000 * 3] Retained earnings R545 000
Profit and loss Appropriation Account for the year ended 31 July 2020 of the Close Corporation (CC) as follows: particulars Amount in R Profit after remuneration of members R940 000 Less : income tax of the year (R260 000) Profit after income tax Less : distribution of profit (R135 000) [ R45 000 * 3] Retained earnings R545 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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