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Are we ok to assume that dividends in the 2008 year payables would have been paid within 2009?
Absolutely, YES
And watch out for this little trick ….
Retained earnings in the statements of financial position should have move from last year to this year by this year’s figure.
But your examiner has started getting cute! Say RE last year was 15,000 and RE this year is 18,000 and Profit after tax this year is 5,000
There MUST have been a 2,000 dividend!
He won’t flag this in the question so you need to be aware of it
OK?
You beauty! I do remember this from your lectures but thank you for the reminder!
Have yourself a super jolly weekend Mike!
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