C. Manalo Inc., developing mobile commerce applications, has the following outstanding shares: 25,000 shares of 1%cumulative preference shares, P40 par and 50,000 shares of P120 par ordinary shares. During its first four years ofoperations, the following amounts were distributed as dividends: first year, P17,500; second year, P10,500; thirdyear, P25,000; fourth year, P60,000.Calculate the dividends per share on each class of shares for the first year.

As with common stock, preferred stock pays a dividend. Preferred stocks, on the other hand, pay a…

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Calculate the dividends per share on each class of shares for the first year.

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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C. Manalo Inc., developing mobile commerce applications, has the following outstanding shares: 25,000 shares of 1%
cumulative preference shares, P40 par and 50,000 shares of P120 par ordinary shares. During its first four years of
operations, the following amounts were distributed as dividends: first year, P17,500; second year, P10,500; third
year, P25,000; fourth year, P60,000.
Calculate the dividends per share on each class of shares for the first year.

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