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

question 26

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) $360 000