Q280
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
AnswerD.
Rs 65,000
Answer: Option C
Solution
Answer: Option C
Solution:
Profit earned during the year = 5000 + 35000 - 25000
= Rs. 15000.