Question No 05 Retained Earnings

Question No 05: Retained Earnings
Given balance belongs to DANISH corporation.
Retained earnings 2500000/=
-Closing process revealed credit balance of income summary at Rs.210000/=
Following decisions are made for the year appropriations:
-create general reserve of 10000
-made building extension and renovation reserve 5000
-reserve for debenture redemption 12000
-contingency reserve is ¾ of general reserve
Required:
-journal entries
-partial balance sheet
Resrves And Funds:
1999 (Q8), 1997 (Q8), 1996 (Q7), 1993 (Q8), 1989 (Q8), 2002 P (Q7), 2003 R (Q7), 2004 R & P (Q7), 2003 P (Q7a)
Best Of Luck


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