At 31 October 2018, the balance on Setium Limited's retained earnings stood at £107,800. During the year ended 31 October 2019, the company made a loss for the year of £18,500. The balance on Setium Limited's retained earnings at 31 October 2019 was £75,500. How much was the cash dividend paid by the company during the financial year ended 31 October 2019?

Question

Quizplus · Accepted Answer

The cash dividend paid by the company during the financial year ended 31 October 2019 is £13,800. This is calculated as follows:Opening retained earnings: £107,800Less: Loss for the year: £18,500Closing retained earnings: £75,500Cash dividend paid: £107,800 - £75,500 = £13,800

At 31 October 2018, the Balance on Setium Limited's Retained