Solved

Use This Information to Answer the Following Questions:
the Following

Question 45

Multiple Choice

Use this information to answer the following questions:
The following information is taken from the financial statements of Cyrus Ltd for the year ended 30 June 2012 .
$ Retained profits, 1 July 2011 60,000 Retained profits, 30 June 2012 80,000 Net profit before tax 820,000 Income tax expense 390,000 Final dividend payable, 1 July 2011 250,000 Final dividend payable, 30 June 2012 230,000 Transfer from reserves to retained profits 50,000 \begin{array}{lr} & \$ \\ \text { Retained profits, 1 July 2011 } & 60,000 \\ \text { Retained profits, 30 June 2012 } & 80,000 \\ \text { Net profit before tax } & 820,000 \\ \text { Income tax expense } & 390,000 \\ \text { Final dividend payable, 1 July 2011 } & 250,000 \\ \text { Final dividend payable, 30 June 2012 } & 230,000 \\ \text { Transfer from reserves to retained profits } & 50,000\end{array}
-What were the total dividends paid during the year?


A) $250 000
B) $460 000
C) $480 000
D) $230 000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents