Rocky plc, engaged in retailing consumer durables, received 30,000 as dividend from the investments it holds in

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Rocky plc, engaged in retailing consumer durables, received £30,000 as dividend from the investments it holds in other companies. This should be reported in current year’s financial statements as:

(a) Addition to Retained earnings brought forward in the Statement of changes in equity

(b) As an income after identifying profit from operations, in the Statement of income

(d) As addition to Equity and reserves total in the Statement of financial position

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 28, 2023 08:30 AM

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Rocky plc, engaged in retailing consumer durables, received 30,000 as dividend from the investments it holds in

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b As an income a...View the full answer

Financial Accounting An Introduction

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