A corporation has 5,000 ordinary shares issued and outstanding. The par value is P100 per share. The fair value on this date is P130 per share. The Retained Earnings account has a total balance of P380,000, of which P80,000 are restricted for some future contingencies. There are 200 shares in the treasury costing P25,000. The cash balance is P700,000.

32. What is the maximum amount of cash dividends, which the corporation mav declare? a. P 275,000 b. 300.000 c. P 675.000 d. P 700,000 A corporation declared and issued on November 1, 2019, 10% scrip dividends (with interest at 12% per annum) to all shareholders of record as at December 31, 2019, payable on June 1, 2020. On the date of declaration. there were 50.000 ordinary shares outstanding with a par value of $40 per share

33. How much is the accrued interest on December 31 2019? a. 3,333 b. 4,000 c. P 12,000 d. p 14,000 The shareholders' equity accounts of XOX Corporation on December 31, 2023 were as follows: 12% Preference Share Capital, 40 par P 2,000,000 Ordinary Share Capital, 20 par - 8,000,000 Retained Earnings 5,000,000 On this date, the board of directors declared 50% of the retained earnings as cash dividend. No dividends were declared in 2021 and 2022.

34. If the preference shares are noncumulative and nonparticipating, the dividend per ordinary scare is 1.25 . P 5.65 c. P 6.25 d. P 20.00

35. If the preference shares are cumulative and fully participating, the dividend per preference share is: . p 17.68 b. P 40.00 c. P 48.00 d. P 50.00