The following extract is from the statement of profit or loss of Gearing Co for the year ended 30 April 20X8. $ 68,000 (32,000) 36,000 Profit before tax Тах Profit for the year In addition to the profit above: Gearing Co paid a dividend of $21,000 during the year. A gain on revaluation of land resulted in a surplus of $18,000. 1 2 What total amount will be added to retained earnings at the end of the financial year?

The following extract is from the statement of profit or loss of Gearing Co for the year ended 30 April 20X8. $ 68,000 (32,000) 36,000 Profit before tax Тах Profit for the year In addition to the profit above: Gearing Co paid a dividend of $21,000 during the year. A gain on revaluation of land resulted in a surplus of $18,000. 1 2 What total amount will be added to retained earnings at the end of the financial year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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