Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

For T Limited, the available figures are as follows: retained earnings at 30 June 2018 were $94\,000$ and at 30 June 2019 were $148\,000$; general reserve stood at $50\,000$ and $65\,000$; accrued loan interest was $3\,000$ and $1\,000$. In the year ended 30 June 2019, T Limited paid a dividend of $60\,000$ and loan interest of $27\,000$. Calculate the profit from operations for the year ended 30 June 2019.

  • A$104\,000$
  • B$114\,000$
  • C$129\,000$
  • D$154\,000$

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