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