Cefner Corporation paid dividends ofP200,000 and P300,000 at the endof 2019 and 2020, respectively. Thecorporation has not paid any otherdividends since its organization onJanuary 2, 2019. The outstandingshares are 10,000, 12% preferenceshares, par P10 and 50,000 ordinaryshares, Par P100. If preference shareis non-cumulative and fullyparticipating, how much totaldividends would be received in 2019by the ordinary shareholders?

Formula: Total dividend to ordinary shareholders = Total dividend - Preference dividend

Answered: Cefner Corporation paid dividends of…

Cefner Corporation paid dividends of P200,000 and P300,000 at the end of 2019 and 2020, respectively. The corporation has not paid any other dividends since its organization on

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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