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The following is the abstract of the shareholders' equity of Shake Corporation before declaration of cash dividends 12% Preference Share Capital, par P80, 30,000 shares all issued and outstanding P3,000,000 Ordinary Share Capital, par P40, 20,000 shares all issued and outstanding P1,000,000 Retained Earnings 5,500,000 The Board declared dividends of P1,200,000. No dividends were distributed last year. Required: Determine how much dividends the preference and ordinary shares will receive given the following independent situations: d. The Preference share is cumulative and fully participating

The following is the abstract of the shareholders' equity of Shake Corporation before declaration of cash dividends 12% Preference Share Capital, par P80, 30,000 shares all issued and outstanding P3,000,000 Ordinary Share Capital, par P40, 20,000 shares all issued and outstanding P1,000,000 Retained Earnings 5,500,000 The Board declared dividends of P1,200,000. No dividends were distributed last year. Required: Determine how much dividends the preference and ordinary shares will receive given the following independent situations: d. The Preference share is cumulative and fully participating

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following is the abstract of the shareholders' equity of Shake Corporation before declaration of cash dividends 12% Preference Share Capital, par P80, 30,000 shares all issued and outstanding P3,000,000 Ordinary Share Capital, par P40, 20,000 shares all issued and outstanding P1,000,000 Retained Earnings 5,500,000 The Board declared dividends of P1,200,000. No dividends were distributed last year. Required: Determine how much dividends the preference and ordinary shares will receive given the following independent situations: d. The Preference share is cumulative and fully participating
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