What is the closing balance on Zeta Corporation

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Question - Zeta Corporation started its accounting year with an opening balance of $3,000,000 on its retained earnings reserve. During the year it paid a dividend of $250,000 to its ordinary shareholders and also issued 100000 bonus shares. The nominal (par value) of zetas shares is $10. Zeta incurred a corporation tax change of $300,000 for the year. At the end of the year the company had earned net profit after tax and all other expenses of $450,000. What is the closing balance on Zeta Corporation retained earnings reserve?

Reference no: EM132776496

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