XYZ Company is doing business for many years. The company had opening balance of Retained earnings on 1st January 2018 was OMR 120,000. During the year ended 31st December 2019, it reported Net Income and losses. 31st December Net Income/(Net Loss) OMR 2018 (25,000) 2019 (15,000) 2020 40,000 The company paid dividends of OMR 25,000 at the end of every year till 31st December 2019. The closing balance of Retained earnings at the end of of the year 2020 was a. 0 b. 125,000 c. 70,000 d. 45,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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XYZ Company is doing business for many years. The company had opening balance of Retained earnings on 1st January 2018 was OMR 120,000. During the year ended 31st December 2019, it reported Net Income and losses. 31st December Net Income/(Net Loss) OMR 2018 (25,000) 2019 (15,000) 2020 40,000 The company paid dividends of OMR 25,000 at the end of every year till 31st December 2019. The closing balance of Retained earnings at the end of of the year 2020 was a. 0 b. 125,000 c. 70,000 d. 45,000
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