A company started operations in 2019 with 250,000 P10 par value ordinary shares and 20,000 9% P100 par value preference shares. This capitalization did not change until 2021. The company paid dividends amounting to P150,000, P260,000 and P540,000 at the end of 2019, 2020 and 2021, respectively. If the preference shares were cumulative and non-participating, determine the dividend per ordinary share in 2021. (Round off final answer to 2 decimal places)
A company started operations in 2019 with 250,000 P10 par value ordinary shares and 20,000 9% P100 par value preference shares. This capitalization did not change until 2021. The company paid dividends amounting to P150,000, P260,000 and P540,000 at the end of 2019, 2020 and 2021, respectively. If the preference shares were cumulative and non-participating, determine the dividend per ordinary share in 2021. (Round off final answer to 2 decimal places)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
39. A company started operations in 2019 with 250,000 P10 par value ordinary shares and 20,000 9% P100 par value
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education