Assume the following information of Filay Inc. at December 31, 2022: 10% Preference share, P100 par, 20,000
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Question:
Assume the following information of Filay Inc. at December 31, 2022:
10% Preference share, P100 par, 20,000 shares issued and outstanding P2,000,000
Ordinary share, P20 par
60,000 shares issued and outstanding 1,200,000
Filay Inc. declared and paid cash dividends for the years 2023 through 2025 as follows:
2023 - P300,000
2024 - P200,000
2025 - P800,000
Required: Determined the total dividends and the dividends per share both for preference and ordinary shares for each of
the three years, under the following independent assumptions:
- Preference share is cumulative and fully participating
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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