Paper 1 October/November 2009 Accounting (9706/11) A Level
The following information is available for a limited company.
At 1 April 2021 the balance of the retained earnings account was $\$ 858000$.
On 31 March 2022 the directors transferred $\$ 280000$ to a general reserve. They also issued 250000 bonus shares of $\$ 1$ each using the general reserve.
What was the balance of the retained earnings account at 31 March 2022?