Problem 1: (Cash Dividends for Two Classes of Shares) The board of directors of KALEIDOSCOPE Corporation has declared cash dividends of P30,00o to its outstanding shares. The outstanding share capital of KALEIDOSCOPE Corporation consists of 3,000 shares of P60 par value, 6% preference share capital and 6,500 shares of P15 par value ordinary share capital. Dividends are in arrears for two years. Requirements: 4. Ordinary shares p. Preference share capital is noncumulative and nonparticipating q. Preference share capital is noncumulative and participating r. Preference share capital is cumulative and nonparticipating s. Preference share capital is cumulative and participating t. Preference share capital is cumulative and participating up to 8%

Problem 1: (Cash Dividends for Two Classes of Shares) The board of directors of KALEIDOSCOPE Corporation has declared cash dividends of P30,00o to its outstanding shares. The outstanding share capital of KALEIDOSCOPE Corporation consists of 3,000 shares of P60 par value, 6% preference share capital and 6,500 shares of P15 par value ordinary share capital. Dividends are in arrears for two years. Requirements: 4. Ordinary shares p. Preference share capital is noncumulative and nonparticipating q. Preference share capital is noncumulative and participating r. Preference share capital is cumulative and nonparticipating s. Preference share capital is cumulative and participating t. Preference share capital is cumulative and participating up to 8%

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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