Accounting Multiple Choice Question – 13 March 2022

A company’s statement of financial position showed the total equity of £300,000 on 1 July 2020.

The following took place during the year ended 30 June 2021.

• Profit for the year was £77,500.
• An interim dividend of £9,000 was paid.
• A final dividend of £16,000 was proposed.

What was the total equity at 30 June 2021?

Select ONE answer:

1. £344,500
2. £352,500
3. £368,500
4. £376,500

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct – £300,000 + £77,500 – £9,000
4. Not correct

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