he following equity section of the balance sheet of CUTE Corporation as of December 31, 2021 Paid – in Capital: 10% Preferred shares, P 20 par Ordinary shares, P 10 par Subscribed ordinary share Subscription receivable – ordinary share Share premium – preferred shares Share premium – ordinary shares Retained earnings: Unappropriated Appropriated for treasury shares Treasury shares – preferred shares, at cost of P 25 per share Treasury shares – ordinary shares, at cost of P 15 per share P 6,000,000 8,000,000 4,000,000 (3,000,000) 600,000 1,600,000 2,000,000 5,500,000 (2,500,000) (3,000,000)
he following equity section of the balance sheet of CUTE Corporation as of December 31, 2021 Paid – in Capital: 10% Preferred shares, P 20 par Ordinary shares, P 10 par Subscribed ordinary share Subscription receivable – ordinary share Share premium – preferred shares Share premium – ordinary shares Retained earnings: Unappropriated Appropriated for treasury shares Treasury shares – preferred shares, at cost of P 25 per share Treasury shares – ordinary shares, at cost of P 15 per share P 6,000,000 8,000,000 4,000,000 (3,000,000) 600,000 1,600,000 2,000,000 5,500,000 (2,500,000) (3,000,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
How much is the cash dividend payable to preferred shareholders?How many ordinary shares are entitled to receive dividends?
Transcribed Image Text:The following equity section of the balance sheet of CUTE Corporation as of December 31, 2021:
Paid – in Capital:
10% Preferred shares, P 20 par
P 6,000,000
Ordinary shares, P 10 par
Subscribed ordinary share
Subscription receivable – ordinary share
Share premium – preferred shares
Share premium – ordinary shares
Retained earnings:
Unappropriated
Appropriated for treasury shares
Treasury shares – preferred shares, at cost of P 25 per share
Treasury shares – ordinary shares, at cost of P 15 per share
8,000,000
4,000,000
(3,000,000)
600,000
1,600,000
2,000,000
5,500,000
(2,500,000)
(3,000,000)
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