Sing Tao Inc

question 19

Multiple Choice

Sing Tao inc. began operations on June 2, 2014. During June, Sing Tao sold ordinary shares for HK$17,175,000, earned revenue of HK$3,030,000, incurred expenses of HK$1,545,000, and paid dividends of HK$45,000. Equity at the end of June is

• A) HK$1,440,000.
• B) HK$1,485,000.
• C) HK$18,615,000.
• D) HK$20,205,000.

---

Definitions:

Cash Payments Journal

A financial journal that records all cash outlays or disbursements made by a company during a period.

Accounts Payable Subsidiary Ledger

A ledger containing all account details of amounts owed by a business to its suppliers or creditors, facilitating more detailed tracking alongside the general ledger.

Payment For Supplies

The monetary expenditure for obtaining supplies necessary for the operation of a business.

Monthly Adjustment

A routine accounting process for updating financial statements and records to reflect changes and transactions that occurred within a month.