On December 31, 2021, the statement of financial position of FRUITS Company showed the following shareholders' equity accounts: • Ordinary shares, par P50, authorized 100,000 shares, issued 85,000 shares, in treasury 7,500 shares - P 4,250,000 12% Preference shares, par P75, authorized 50,000 shares, issued 20,000 shares, in treasury 4,000 shares - P 1,500,000 Share premium in excess of par -P 862,500 Reserve for Treasury shares - 725,000 Treasury ordinary shares - P 435,000; Treasury preference shares - P 290,000 Retained earnings, unrestricted - P 2,168,000 Net income for the year - P 762,000 Cash dividends declared - P 194,000; 2 years in arrears, current year is not yet included
On December 31, 2021, the statement of financial position of FRUITS Company showed the following shareholders' equity accounts: • Ordinary shares, par P50, authorized 100,000 shares, issued 85,000 shares, in treasury 7,500 shares - P 4,250,000 12% Preference shares, par P75, authorized 50,000 shares, issued 20,000 shares, in treasury 4,000 shares - P 1,500,000 Share premium in excess of par -P 862,500 Reserve for Treasury shares - 725,000 Treasury ordinary shares - P 435,000; Treasury preference shares - P 290,000 Retained earnings, unrestricted - P 2,168,000 Net income for the year - P 762,000 Cash dividends declared - P 194,000; 2 years in arrears, current year is not yet included
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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8A. How much is the dividend allocation for ORDINARY shareholders considering -
8B. How much is the dividend allocation for PREFERENCE shareholders considering - Preference shares are cumulative and participating?
8C. How much is the dividend PER SHARE for ORDINARY shareholders considering - Preference shares are non-cumulative and participating up to 20%? (Present answer in 2 decimal places, example: x.xx)
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