NUEVE COMPANY declared P3,000,000 cash dividends to its preference and ordinary shareholders out of its unappropriated retained earnings in 2018. No dividends have been declared since 2015. NUEVE's shareholders' equity immediately before the dividend declaration is as follows: 10% Preference share capital, P300 par, cumulative & participating 12% Preference share capital, P150 par, noncumulative & participating Ordinary share capital, P100 par Treasury shares - Preference shares* (@ P200 cost) Retained earnings Ordinary share premium *The treasury shares pertain to those preference shares with a rate of 12%. P3,000,000 1,500,000 1,500,000 600,000 6,000,000 200,000

NUEVE COMPANY declared P3,000,000 cash dividends to its preference and ordinary shareholders out of its unappropriated retained earnings in 2018. No dividends have been declared since 2015. NUEVE's shareholders' equity immediately before the dividend declaration is as follows: 10% Preference share capital, P300 par, cumulative & participating 12% Preference share capital, P150 par, noncumulative & participating Ordinary share capital, P100 par Treasury shares - Preference shares* (@ P200 cost) Retained earnings Ordinary share premium *The treasury shares pertain to those preference shares with a rate of 12%. P3,000,000 1,500,000 1,500,000 600,000 6,000,000 200,000

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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Similar questions

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