GR Company had outstanding 2,000 shares of P100 par value 8% cumulative preference share and 30,000 shares of P5 par value ordinary share on December 31, 2021. On December 2021, dividends in arrears on the preference share were P8.000. Cash dividend declared in 2021 totaled P30.000. A. How much is the total dividends of ordinary shareholders? O P12,000 O P16,000 O P6,000 O P10,000 B. How much is the total dividends of preference shareholders? O P18,000 O P16,000 O P14,000 O P24,000
GR Company had outstanding 2,000 shares of P100 par value 8% cumulative preference share and 30,000 shares of P5 par value ordinary share on December 31, 2021. On December 2021, dividends in arrears on the preference share were P8.000. Cash dividend declared in 2021 totaled P30.000. A. How much is the total dividends of ordinary shareholders? O P12,000 O P16,000 O P6,000 O P10,000 B. How much is the total dividends of preference shareholders? O P18,000 O P16,000 O P14,000 O P24,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 67E: Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its...
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GR Company had outstanding 2,000 shares of P100 par value 8% cumulative preference share and 30,000 shares of
P5 par value ordinary share on December 31, 2021. On December 2021, dividends in arrears on the preference share were P8.000. Cash dividend declared in 2021 totaled P30.000.
A. How much is the total dividends of ordinary shareholders?
O P12,000
O P16,000
O P6,000
O P10,000
B. How much is the total dividends of preference shareholders?
O P18,000
O P16,000
O P14,000
O P24,000
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