The annual profit of the Heavy Industries Limited Shareholding Company for the year 2019 amounted to 1,000,000 dinars. The following balances were shown before the distribution was made: Profit Paid capital 2,000,000 million dinars Retained profits 100,000 dinars: If you knew the following, the income tax provision amounted to -1.150,000 dinars The income tax reimbursement for -2 previous years amounted to 50,000 dinars, and it was decided to distribute profits to -3. Shareholders by 15% The number of members of the Board of Directors is (11) members. (12) sessions were held during 2019, and the members’ members were absent from four sessions. The company deducted -5 the compulsory reserve, as stipulated in the Companies Law, it was decided to deduct 6-12%. Voluntary reserve
2,000,000 million dinars Retained profits 100,000 dinars: If you knew the following, the income tax provision amounted to -1.150,000 dinars, and the income tax reimbursement for -2 previous years amounted to 50,000 dinars, and it was decided to distribute profits to -3. Shareholders by 15% The number of members of the Board of Directors is (11) members. (12) sessions were held during the year 2019, and one of the members was absent from four sessions. The company deducted -5 the mandatory reserve as stipulated. The Companies Law decided to deduct -6-12%. Optional reserve required: Preparing the list of distribution of profits and losses for the year 2019?

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The distribution of profits and losses for the year 2019 would be as follows Heavy Industri... View the full answer