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Find what was the opening balance of the retained earnings

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Reference no: EM132556014

Question 1: During the year, a merchandising company had the following transactions: - Generated 300.000 TL revenue and incurred 225.000 TL expense. - Issued new shares of 20.000 at a price of 1,2 TL (par value is 1 TL). - Repurchased 1.000 shares at a price of 1,1 TL. - Revalued its headquarters building as well as its one of the rental properties. The increases in the values have been found to be 15.000 TL and 20.000 TL, respectively. - Paid stock dividends of 10.000 TL to the investors. Suppose that the ending retained earnings balance in the Statement of Changes in Shareholders Equity is 105.000 TL. Then, what was the opening balance of the retained earnings at the beginning of the year?

Option A) 20.000 TL

Option B) 10.000 TL

Option C) 25.000 TL

Option D) 15.000 TL

Reference no: EM132556014

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