Question: Please do it As soon as possible in hour Alpha Echo Tango (AET) Ltd had the following equity accounts as at 1/7/2020. Share Capital (50,000
Please do it As soon as possible in hour
Alpha Echo Tango (AET) Ltd had the following equity accounts as at 1/7/2020.
| Share Capital (50,000 shares) | 200,000 |
| General reserve | 20,000 |
| Retained Earnings | 52,000 |
During the year ended 30/6/2021, the following occurred:
1. A profit of $25,000 was generated
2. $10,000 was transferred to the General reserve.
3. A final dividend of 18c per share was declared and paid.
Required:
A statement of the changes in retained earnings.
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