Question Equity
Required:
Prepare journal entries to record items and
Date Accounts Debit Credit
Show the note to the financial statements providing details of the movements in the Retained Earnings account during the year.Question Equity
Huntless Ltd has the following items in its accounting records for the current year:
$ issued and paid up ordinary shares
Dividends declared and paid during the year $
Transfer from Retained earnings to General reserve $
Net profit for the year $
Opening Retained earnings $
Required:
Prepare journal entries to record items and
Show the note to the financial statements providing details of the movements in the Retained
Earnings account during the year.
