The worksheet of the Olympic company shows the following facts for the period ending on 31/2020: „Share capital-ordinary-$14000, total revenues=120000,total expenses=90000, retained earning opening balance=40000 the board of directors decided to distribute $12000 as dividends Required: 1)Prepare the statement of Retained Earnings. 2)pass the closing entries needed here

The worksheet of the Olympic company shows the following facts for the period ending on 31/2020: „Share capital-ordinary-$14000, total revenues=120000,total expenses=90000, retained earning opening balance=40000 the board of directors decided to distribute $12000 as dividends Required: 1)Prepare the statement of Retained Earnings. 2)pass the closing entries needed here

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please show the solution in good accounting form. 5. How much is the TOTAL treasury share capital? 6. How much is the Retained earnings, END? 7. How much is the Retained earnings, end - UNAPPROPRIATED?
SHOW THE JOURNAL ENTRY OF G AND H! SHOW THE JOURNAL ENTRY OF G AND H!
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