Tale LTd. has 100,000 ordinary shares of ₦1 each and 60,000 5% preference shares of ₦1 each. Both were fully paid as shown below,
₦ Profit and loss appropriation b/f10,000 Net profit for the year6,000 Proposed dividend on ordinary shares4,000 Interim dividend6,000 Goodwill written off 600
The balance of the profit and loss appropriation account as at the end of the year was
A ₦16,000
B ₦10,000
C ₦5,400
D ₦1,400
Answer is C
