During the year ended 30 June 2025, the directors of Jindabyne Ltd declared and paid an interim
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During the year ended 30 June 2025, the directors of Jindabyne Ltd declared and paid an interim dividend of \($18\) 000 out of retained earnings. At the end of the year the financial statements showed a profit (before tax) of \($460\) 000 out of which the directors made the following reserve transfers and tax liability.
The beginning balance of retained earnings was \($15\) 000.
Required
(a) Prepare journal entries relating to the above transactions.
(b) Prepare the Retained Earnings account for Jindabyne Ltd for the year ended 30 June 2025.
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Related Book For
Accounting
ISBN: 9780730382737
11th Edition
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie
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