The undistributed profit carried forward is?
Use the information below to answer questions
Turnover………………………N120 000
Net profit before tax…………..N40 000
Net profit b/f…………………N68 000
Proposed dividends:
Ordinary shares………………..N8 000
Preference shares………………N6 000
Corporate tax is 30%……………N10 000
The undistributed profit carried forward is?
A N 68 000
B N 20 000
C N 74 000
D N 34 000
Answer is A
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