The Retained Profits of Franko Ltd at the Beginning of the Year

question 16

Multiple Choice

The retained profits of Franko Ltd at the beginning of the year were $270 000 and at the end of the year $320 000. Net profit after tax for the year was $510 000. During the year, $100 000 was transferred to general reserve. The proposed final dividend at the beginning of the year was $200 000 and at the end of the year $250 000. What was the amount of interim dividend paid during the year?

• A) $110 000
• B) $160 000
• C) $260 000
• D) None of the above

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Definitions:

Anecdotes

Short, often amusing or interesting stories about real incidents or people.

Experiments

Controlled procedures carried out to investigate the effects of a variable by systematically manipulating it and observing the outcome.

Phrenologists

Practitioners of phrenology, a now-discredited theory that linked the shape of an individual's skull with their personality traits and mental abilities.

Theory Of Phrenology

A now-discredited theory that proposed the shape and size of the skull could determine a person's character and mental abilities.