Question

Sing Tao inc. began operations on June 2, 2011. During June, Sing Tao sold ordinary shares for  HK$11,450,000 \mathrm{HK} \$ 11,450,000 HK$11,450,000 , earned revenue of  HK$2,020,000 \mathrm{HK} \$ 2,020,000 HK$2,020,000 , incurred expenses of  HK$1,030,000 H K \$ 1,030,000 HK$1,030,000 , and paid dividends of  HK$30,000 \mathrm{HK} \$ 30,000 HK$30,000 . Retained earnings at June 30,2011

Accepted Answer

A)    HK$960,000  \mathrm{HK} \$ 960,000 HK$960,000 
B)    HK$990,000 \mathrm{HK} \$ 990,000 HK$990,000 
C)    HK$12,410,000 H K \$ 12,410,000 HK$12,410,000 
D)    HK$13,471,000  H K \$ 13,471,000 HK$13,471,000  E) A) and C)
F) None of the above

Exam 1: Accounting in Action

Sing Tao inc. began operations on June 2, 2011. During June, Sing Tao sold ordinary shares for $\mathrm{HK} \$ 11,450,000$ , earned revenue of $\mathrm{HK} \$ 2,020,000$ , incurred expenses of $H K \$ 1,030,000$ , and paid dividends of $\mathrm{HK} \$ 30,000$ . Retained earnings at June 30,2011

Correct Answer
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Exam 1: Accounting in Action

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Correct Answer
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