Solution-Calculate the amount of dividends paid for the

Calculate the amount of dividends paid for the year ended

Assignment Help Accounting Basics

Reference no: EM133070213

Question - A small company called Tin Can Pty Limited has the following financial information extracted from its accounting system for the year ended 31 December 2021:

Description	$
Revenue	950,000
Expenses	495,000
Assets - 31 December 2021	2,005,000
Liabilities - 31 December 2021	1,550,000
Retained earnings - 1 January 2021	72,000
Share capital - 31 December 2021	250,000

NOTE: There are no reserves, and there was no change in the share capital balance during the year.

Required - Calculate the amount of dividends paid for the year ended 31 December 2021. Show all workings.

Reference no: EM133070213

Questions Cloud

What outside basis do Lance and Francesca have : On the last day of the year, the partnership distributed $3,900 each to Lance and Francesca. What outside basis do Lance and Francesca have

Explain the fit and prediction for forecasting models : Describe the difference between fit and prediction for forecasting models.

How to do the journal entry for this one : Question - Triple-A used mica powder worth 30,000 in the month of September from Mica Corporation. How to do the journal entry for this one

Roles of Police-Public servant and crime fighter : Discuss the 2 roles of police officers: the public servant and the crime fighter. How do these concepts tie into the roles of police officers as public servants

Calculate the amount of dividends paid for the year ended : NOTE: There are no reserves, and there was no change in the share capital balance during the year. Calculate the amount of dividends paid for the year ended

Some states implement own legislation : With regard to gun control, some states implement their own legislation. Some make gun ownership less restrictive, while others are more restrictive.

Juvenile probation analysis-electronic monitoring : What is electronic monitoring (EM)? How does it work? What are some of the challenges with EM? What are the recidivism rates?

What is deon and nene amt : In 2021, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income (all ordinary) is $1,265,400, What is Deon and NeNe AMT

Calculate the debt ratio for the company : The firm faces a cost of debt of 4%. Calculate the debt ratio for the company after incorporating the valuation of the lease obligations

User Account

All Pages

Calculate the amount of dividends paid for the year ended

Reference no: EM133070213

Reference no: EM133070213

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT