Dividends on Preference and Ordinary The preference and ordinary shares outstanding of R. Dela Calzada, Inc. on Dec. 31 2019 follows: 8% Preference Shares, P10 par, cumulative, participating, 40,000 shares authorized, 10,000 shares issued and outstanding P100,000 Ordinary Shares, P2 par, 10,000,000 shares authorized, 250,000 shares issued and outstanding Total Preference and Ordinary Shares 500,000 P600,000 Required: Calculate the amount of dividends received by preference and ordinary shareholders, espectively, under each of the following assumptions: Preference dividends for 2018 are in arrears. On Dec. 31, 2019, R. Dela Calzada declared a total dividend of P56,000. No dividends are in arrears. On Dec. 31, 2019, R. Dela Calzada declared a total dividend of P66,000. Preference dividends for 2017 and 2018 are in arrears. On Dec. 31, 2019, R. Dela Calzada declared a total dividend of P88,000.

Dividends on Preference and Ordinary The preference and ordinary shares outstanding of R. Dela Calzada, Inc. on Dec. 31 2019 follows: 8% Preference Shares, P10 par, cumulative, participating, 40,000 shares authorized, 10,000 shares issued and outstanding P100,000 Ordinary Shares, P2 par, 10,000,000 shares authorized, 250,000 shares issued and outstanding Total Preference and Ordinary Shares 500,000 P600,000 Required: Calculate the amount of dividends received by preference and ordinary shareholders, espectively, under each of the following assumptions: Preference dividends for 2018 are in arrears. On Dec. 31, 2019, R. Dela Calzada declared a total dividend of P56,000. No dividends are in arrears. On Dec. 31, 2019, R. Dela Calzada declared a total dividend of P66,000. Preference dividends for 2017 and 2018 are in arrears. On Dec. 31, 2019, R. Dela Calzada declared a total dividend of P88,000.

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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