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Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the
Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000.
Required:
For each of the following independent cases below, compute the total dividends to be received by each class of stock.
- The preference share is non-cumulative and non-participating
- The preference share is cumulative and non-participating with one-year dividends in arrears
- The preference share is non-cumulative and participating
- The preference share is cumulative and participating with no dividends in arrears
- The preference share is cumulative and participating with three years dividends in arrears
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