Use the Information Given Below to Answer the Following Questions

question 62

Multiple Choice

Use the information given below to answer the following questions:
On 30 June 2011, Easter Ltd declared a final dividend. During the year ended 30 June 2012, Easter Ltd earned revenues of $1200 and incurred expenses of $800. Retained profits at 1 July 2011 were $700, and at 30 June 2012, $850. At 30 June 2012, assets totalled $2800 and share capital $1500. There were no transfers to reserves during the year ended 30 June 2012.
-What was the net profit or loss of Easter Ltd for the year?

• A) net profit $2000
• B) net profit $1200
• C) net loss $400
• D) net profit $0.

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Definitions:

Posterior Lobe

The back part of an organ or structure, such as the rear portion of the pituitary gland in the human brain.

Pituitary Gland

A small, pea-sized gland located at the base of the brain, often termed the "master gland," it regulates various hormonal activities in the body.

Synthesized

The process of combining different elements or components to form a coherent whole, often used in the context of chemical or biological production.

ADH

ADH, or Antidiuretic Hormone, is a hormone produced by the pituitary gland that regulates water balance in the body by controlling the concentration of urine.