User Account

All Pages

Calculate the amount of dividends paid by black ltd

Assignment Help Financial Accounting
Reference no: EM132933236

The following information was included in the financial statements of Black Ltd for the year ended 30 June 20X2:

Included in the Statement of Profit or Loss:

Profit for the year $150,000

Included in the Statement of Financial Position:

                                        30 June 20X2                    30 June 20X1

                                       $                                      $

Dividends payable              74,000                     84,000

Retained earnings                90,000                     60,000

Additional information:

During the year ended 30 June 20X2 the company transferred $50,000 from Retained earnings to the General reserve

Required:

Problem 1: Calculate the amount of dividends paid by Black Ltd during the year ended 30 June 20X2.

Reference no: EM132933236

Questions Cloud

Calculate the amortised cost of the bonds : Calculate the amortised cost of the bonds as at 30 June 2019 by preparing a schedule of amortised cost/interest payment
Calculate the amount of tax paid by simmental ltd : Calculate the amount of tax paid by Simmental Ltd during the year ended 30 June 20X2. Simmental Ltd for the year ended 30 June 20X2.
Determine the amount of equity to report : Use the following information for Meeker Corp. to determine the amount of equity to report. Cash $68,000 Buildings 124,000 Land 204,500 Liabilities 129,500
How cloned gene are mixed with an antibiotic : What do you think will happen if normal bacteria that have not received a cloned gene are mixed with an antibiotic?
Calculate the amount of dividends paid by black ltd : Calculate the amount of dividends paid by Black Ltd during the year ended 30 June 20X2. During the year ended 30 June 20X2 the company transferred $50,000.
What is the duration of a coupon bond : What is the duration of a 6% coupon bond making annual coupon payments if it has 3 years until maturity and a yield to maturity of 6.5%
What is the uncollectible accounts expense : Using the direct write-off method for accounting for uncollectible accounts is not preferred by GAAP because it violates which accounting principle?
Find environmental risk and pollution : Environmental injustice is the reality that some communities or groups are unequally subjected to more environmental risk and pollution than others.
Determine the earnings per share of common stock : Determine the earnings per share of common stock, assuming that the income before bond interest and income tax is (a) $200,000, (b) $250,000, and (c) $300,000

Reviews

Write a Review

Financial Accounting Questions & Answers

  What sales return for credit on account would be recorded

A purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. A sales return for credit on account would be recorded in the

  Encountered any time standards are recommendations

What do you think would be the most difficult steps in conducting a "time study".  Have you encountered any "time" standards are recommendations from employers in jobs that you have worked? Explain? Did you or would you be motivated by "time" standar..

  How much would you remain at the end of six years

"In most large corporations, ownership and management are separated. What are the main implications of this separation?

  Cost object of the plantwide overhead rate method

An estate must file a federal income tax return (Form 1041) if it has. The cost object of the plantwide overhead rate method is:

  What do you see as the intent behind section rules

From the shareholder's tax perspective do you think it would be better for a company to liquidate or reorganize? Explain your position. What do you see as the intent behind Section 332 rules?

  What audit procedures did auditors apparently not follow

Ando Company , a diversified manufacture, has six divisions that operate throughout the United States and Puerto Rico , Ando hs historically allowed its divisions to operate autonomously. What audit procedures did auditors apparently not follow that ..

  Average cost method is used what would be conversion cost

Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $13,087. Of the $13,087, $8,220 was for material and $4,867 was for conversion costs. If the average cost method is used what would be..

  What is luisa''s total revenue for a month

how would Luisa classify her Internet payment of $40-as a cost on the balance sheet or as an expense on the income statement? What is Luisa's total revenue for a month?

  How much assuming the growth of the economy

1000 per month for the next 25 years. Which is the deal for Rudy , and by how much , assuming the growth of the economy is 2.75% per year ?

  Residual value in depreciation formula-bank reconciliation

The bank collected a note receivable of $1,000. How would this information be included on the bank reconciliation? Which of the following depreciation methods does NOT use a residual value in the depreciation formula? Which of the following requires ..

  Discuss type of disease and medical condition

Negative eugenics discourages procreation. It tries to prohibit those who have some type of disease, medical condition

  Cost accounting as the basis of compensation system

Industrial Electronics, Inc. This case has been selected to give you experience in using cost accounting as the basis of a compensation system. You will have to evaluate an existing system, a proposed system, and comment on the strengths and weakness..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd