The summarized balance sheet of Autolight Limited shows the balances of previous and current year of retained earnings Rs 25,000 and Rs 35,000. If dividend paid during the current year amounted to Rs 5,000 then profit earned during the year will be:
A. Rs 5,000
B. Rs 55,000
C. Rs 15,000
D. Rs 65,000
Answer: Option C
Solution(By Examveda Team)
Profit earned during the year= 5000 + 35000 - 25000
= Rs. 15000.
Related Questions on Costing
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A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
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B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
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