Reference no: EM132933236
The following information was included in the financial statements of Black Ltd for the year ended 30 June 20X2:
Included in the Statement of Profit or Loss:
Profit for the year $150,000
Included in the Statement of Financial Position:
30 June 20X2 30 June 20X1
$ $
Dividends payable 74,000 84,000
Retained earnings 90,000 60,000
Additional information:
During the year ended 30 June 20X2 the company transferred $50,000 from Retained earnings to the General reserve
Required:
Problem 1: Calculate the amount of dividends paid by Black Ltd during the year ended 30 June 20X2.
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