The shareholders' equity section of XYZ Corporation as of December 31, 2021. 10% Preference Share Capital,...
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The shareholders' equity section of XYZ Corporation as of December 31, 2021. 10% Preference Share Capital, P200 par, authorized 15,000 shares, issued 10,000 Ordinary Share Capital, P100 par, authorized 10,000 shares, 7000 shares issued of which 500 are in treasury Ordinary Share premium Treasury shares (500 at cost) Retained Earnings Appropriated for Treasury Shares Unappropriated Treasury Shares P2,000,000 No dividend has been declared since January 1, 2020. Compute for the dividends to be distributed to the preference and ordinary shareholders based on the following independent situations upon declaration on January 2, 2022. a. Cash dividend declared was P250,000. The preference share is non-cumulative and non- participating. b. Cash dividend declared was P700,000. The preference share is cumulative and non- participating. c. Cash dividend declared was P350,000. The preference share is non-cumulative and fully participating d. Cash dividend declared was P1,000,000. The preference share is cumulative and fully participating. e. Cash dividend declared was P350,000. The preference share is non cumulative and participating up to 12%. 700,000 50,000 60,000 60,000 1,500,000 The shareholders' equity section of XYZ Corporation as of December 31, 2021. 10% Preference Share Capital, P200 par, authorized 15,000 shares, issued 10,000 Ordinary Share Capital, P100 par, authorized 10,000 shares, 7000 shares issued of which 500 are in treasury Ordinary Share premium Treasury shares (500 at cost) Retained Earnings Appropriated for Treasury Shares Unappropriated Treasury Shares P2,000,000 No dividend has been declared since January 1, 2020. Compute for the dividends to be distributed to the preference and ordinary shareholders based on the following independent situations upon declaration on January 2, 2022. a. Cash dividend declared was P250,000. The preference share is non-cumulative and non- participating. b. Cash dividend declared was P700,000. The preference share is cumulative and non- participating. c. Cash dividend declared was P350,000. The preference share is non-cumulative and fully participating d. Cash dividend declared was P1,000,000. The preference share is cumulative and fully participating. e. Cash dividend declared was P350,000. The preference share is non cumulative and participating up to 12%. 700,000 50,000 60,000 60,000 1,500,000
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a Cash dividend declared was P250000 The preference share is noncumulative and nonparticipating For noncumulative and nonparticipating preference shares the dividend is only paid to the preference sha... View the full answer
Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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