Guimba Corporation has the following data on stock issued and outstanding on December 31, 2020: 10% Preference share, P10 par 450,000 Ordinary share capital, P10 par 300,000 Retained earnings 450,000 Dividends were in arrears for 2 years, excluding the current year. The Board of Directors declared P300,000 cash dividends. Assume that the preferred share is non-cumulative and participating. The ordinary dividend per share is? A. 1 В. 4 C. 3 D. 2

Guimba Corporation has the following data on stock issued and outstanding on December 31, 2020: 10% Preference share, P10 par 450,000 Ordinary share capital, P10 par 300,000 Retained earnings 450,000 Dividends were in arrears for 2 years, excluding the current year. The Board of Directors declared P300,000 cash dividends. Assume that the preferred share is non-cumulative and participating. The ordinary dividend per share is? A. 1 В. 4 C. 3 D. 2

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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