Seesaw Ltd's share capital consists of 60000 10% preference shares of $1 and 100 000 ordinary shares
Question:
Seesaw Ltd's share capital consists of 60000 10% preference shares of $1 and 100 000 ordinary shares of $1. Profits for six years were as follows: 1998 $10 000; 1999 $5000; 2000 $7000; 2001 $4000; 2002 $7000; 2003 $12 000.
Required
Prepare tables showing the dividends payable to the preference shareholders and ordinary shareholders if the preference shares are
(a) Non-cumulative
(b) Cumulative.
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For NonCumulative Preference Shares a Noncumulative means that if there are insufficient profits in ...View the full answer
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