Question: 9. During 2019 Corleone Ltd declared dividends for $500. Retained profits at 1 January 2019 were $4,000, and at 31 December 2019, $4,400. At 31

9. During 2019 Corleone Ltd declared dividends for $500. Retained profits

9. During 2019 Corleone Ltd declared dividends for $500. Retained profits at 1 January 2019 were $4,000, and at 31 December 2019, $4,400. At 31 December 2019, total assets were $10,000 and share capital $2,000. There were no transfers to reserves in 2019. Calculate profit for 2019. a. $(100) b. $900 c. $400 d. $500 e. $0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1.During 2019 Corleone Ltd declared dividends for $500. Retained profits at 1 January 2019 were $4,000, and at 31 December 2019, $4,400. At 31 December 2019, total assets were $10,000 and share...

Q:

1.During 2019 Corleone Ltd declared dividends for $500. Retained profits at 1 January 2019 were $4,000, and at 31 December 2019, $4,400. At 31 December 2019, total assets were $10,000 and share...

Q:

1.During 2019 Corleone Ltd declared dividends for $500. Retained profits at 1 January 2019 were $4,000, and at 31 December 2019, $4,400. At 31 December 2019, total assets were $10,000 and share...

Q:

1.During 2019 Corleone Ltd declared dividends for $500. Retained profits at 1 January 2019 were $4,000, and at 31 December 2019, $4,400. At 31 December 2019, total assets were $10,000 and share...

Q:

May you kindly feedback me on how to solve this question as soon as possible as you can? QUESTION 2 (45 Marks) A Ltd acquired 30% interest in B Ltd for N$300 000 on incorporation of B Ltd (3 January...

Q:

Hi, I'm struggling with this assignment. Please can you walk me through the answers to the assignment. I know I'm not the first person to ask this. I got stuck right off the bat, working out the cost...

Q:

10:18 X Accounting Fundamen... Page ModuleLearning Outcomes from module syllabus Having completed the mode you wil be able to Discus who migree of france Understand the proper farewer eget urnes...

Q:

Pam Sun Capital stock, $10 par $6.000 $2.000 Additional paid-in capital 1,700 1.200 Retained earnings 3.340 1,600 Sales 2.000 Income from Sun 540 $19.521 26.800 REQUIRED : Determine the amounts that...

Q:

Namibia Outdoor Gear (Pty) Ltd (NOG) is a company which manufactures a variety of camping equipment. Namibia Wilderness Adventurers Limited (NWA) is a listed company on the Namibian Stock Exchange...

Q:

Question 1 Apple Bhd started business many years ago as a family owned private limited company. Over the years, it has successfully acquired smaller companies and grown into a multi-national...

Q:

An investor in the United States bought a one-year Brazilian security valued at 195,000 Brazilian reals. The U.S. dollar equivalent was 100,000. The Brazilian security earned 16 percent during the...

Q:

I have a USB port on my laptop computer. This connector has four wires, as shown below USB Wiring Colour Code DC 1-5V) USB Wiring Color Code Data. Data- Ground The DC and Ground wires supply 5 volts...

Q:

When a bond is issued at a discount, the amount of interest expense for an interest period is calculated by multiplying the _______ amount times the _______ interest rate during the period. Multiple...

Q:

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

Q:

Name and identify the placement features of the three business letter formats discussed in this chapter. (Objective 3)

Q:

Name and explain the two punctuation styles that can be used with letters. (Objective 2)

Q:

What items are included in the signature block of a letter? How and where is the writer identified in a memo? (Objectives 1 and 5)