Raffles Ltd Began the Financial Year on 1 January with Retained

Multiple Choice

Raffles Ltd began the financial year on 1 January with retained profits of $10 000 and by year end on 31 December retained profits had risen to $30 000. If a profit of $60 000 was earned during the year, then the amount declared and/or paid in dividends during the period would be:

A) $20 000.
B) $30 000.
C) $40 000.
D) $50 000.