Valiant Ltd. has 56,000 10 par value ordinary shares outstanding. It declares a 30% share divi- dend on December 1 when the market price per share is 16. The dividend shares are issued on December 31. 1. Why did we classify the above dividends as large share dividends? 2. What are the accounts that will be used on the declaration date? 3. What are the accounts that will be used on the record date? 4. What are the accounts that will be used on the payment date? 5. Prepare the entries for the declaration and payment of the share dividend. 5.2.3 Allocating Cash Dividends Between Preference And Ordinary Shares "ABC" Corporation paid cash dividends totaling $150,000 in 2012 and $75,000 in 2013. In 2014, Taylor intends to pay cash dividends of $800,000. Compute the amount of cash dividends per share to be received by ordinary shareholders in 2014 under each of the following assumptions. Treat each case independently. There were no dividends in arrears as of January 1, 2012. 1. 25,000 shares of ordinary; 100,000 shares of 6 percent, $50 par cumulative preference. 2. 25,000 shares of ordinary; 50,000 shares of 6 percent, $50 par noncumulative preference. 3. 25,000 shares of ordinary; 70,000 shares of 6 percent, $100 par cumulative preference