Ellie Company provided the following shareholders' equity on December 31, 2020: Preference share capital, P100 par, 96,000 shares issued, 12% cumulative and fully participating Ordinary share capital, P50 par, 240,000 shares issued Share premium Retained earnings 9,600,000 12,000,000 6,000,000 8,400,000 Dividends on the preference shares are in arrears for two years including the current year. On December 31, 2020, the entity intends to pay cash dividend of P10 per share to the ordinary shareholders. What is the total amount of dividends to be declared for the preference and ordinary shareholders?

Ellie Company provided the following shareholders' equity on December 31, 2020: Preference share capital, P100 par, 96,000 shares issued, 12% cumulative and fully participating Ordinary share capital, P50 par, 240,000 shares issued Share premium Retained earnings 9,600,000 12,000,000 6,000,000 8,400,000 Dividends on the preference shares are in arrears for two years including the current year. On December 31, 2020, the entity intends to pay cash dividend of P10 per share to the ordinary shareholders. What is the total amount of dividends to be declared for the preference and ordinary shareholders?

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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