Question
1. The Corporation had the following classes of shares outstanding as of December 31, 20x5: Ordinary shares, P 20 par value, 20,000 shares outstanding Preference
1.
The Corporation had the following classes of shares outstanding as of December 31, 20x5:
- Ordinary shares, P 20 par value, 20,000 shares outstanding
- Preference shares, 8 percent, P 100 par value, non-cumulative , 2000 shares outstanding
NO dividends were paid on preference shares for the year 20x3 and 20x4. On December 31, 20x5, a total of P200,000 cash dividend was declared.
Required:
- Compute the amount of dividends payable for ordinary shares.
- Compute the amount of dividends payable for preference shares.
2.
The Corporation had the following classes of shares outstanding as of December 31, 20x5:
- Ordinary shares, P 20 par value, 20,000 shares outstanding
- Preference shares, 8 percent, P 100 par value, non-cumulative and fully participating 2000 shares outstanding
NO dividends were paid on preference shares for the year 20x3 and 20x4. On December 31, 20x5, a total of P200,000 cash dividend was declared.
Required:
- Compute the amount of dividends payable for ordinary shares.
- Compute the amount of dividends payable for preference shares.
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp
1st Edition
013606048X, 9780136060482
