What is the amount of closing retained earnings for the group?  Parent Subsidiary Adjustments Group     Debit  Credit Profit for the year $13,030 $920     $13,810Add: retained earnings-op 5,000 200 200 370 Add: transfer from general reserve to retained earnings 45 60 60   Less: dividend paid  35 10   10 Less: dividend declared 12 20   20   ------- -------     -------Retained earnings-closing bal $18,028 $1,150 Group of answer choices

The amount of closing retained earnings for the group is $19,178.

Here are the steps to understand this:

1. Profit for the Year: The group's profit for the year is the sum of the parent's profit and the subsidiary's profit, which is $13,030 +$920 = $13,950.

2. Opening Retained Earnings: The group's opening retained earnings is the sum of the parent's opening retained earnings, the subsidiary's opening retained earnings, and the adjustments, which is $5,000 +$200 + $370 =$5,570.

3. Transfer from General Reserve to Retained Earnings: The group's transfer from general reserve to retained earnings is the sum of the parent's transfer and the subsidiary's transfer, which is $45 +$60 = $105.

4. Dividend Paid: The group's dividend paid is the sum of the parent's dividend paid and the subsidiary's dividend paid, which is $35 +$10 = $45.

5. Dividend Declared: The group's dividend declared is the sum of the parent's dividend declared and the subsidiary's dividend declared, which is $12 +$20 = $32.

6. Closing Retained Earnings: The group's closing retained earnings is the sum of the profit for the year, the opening retained earnings, and the transfer from general reserve to retained earnings, minus the dividend paid and the dividend declared. So, the closing retained earnings is $13,950 +$5,570 + $105 -$45 - $32 =$19,178.

Therefore, the amount of closing retained earnings for the group is $19,178.