Homework Help is Here – Start Your Trial Now!
Business
Accounting
The following are extracts from a statement of profit or loss and other comprehensive income for the year ended 31 December 2009:   R’000 Sales revenue 10 000 Cost of sales (8 500) Distribution costs (300) Administrative expenses (200) Net interest paid (150) Taxation (500) Dividends (100)   The retained earnings are_________. Select one: a. R1 000 000 b. R1 500 000 c. R250 000 d. R850 000

The following are extracts from a statement of profit or loss and other comprehensive income for the year ended 31 December 2009:   R’000 Sales revenue 10 000 Cost of sales (8 500) Distribution costs (300) Administrative expenses (200) Net interest paid (150) Taxation (500) Dividends (100)   The retained earnings are_________. Select one: a. R1 000 000 b. R1 500 000 c. R250 000 d. R850 000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

The following are extracts from a statement of profit or loss and other comprehensive income for the year ended 31 December 2009:

  R’000
Sales revenue 10 000

Cost of sales

 (8 500)
Distribution costs (300)
Administrative expenses (200)
Net interest paid (150)
Taxation (500)

Dividends

 (100)

 

The retained earnings are_________.

Select one:
a. R1 000 000
b. R1 500 000
c. R250 000
d. R850 000
 
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Computation of Taxable Income
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS