For Lettuce Company what is the dividend pay-out ratio for years 1 and 2, respectively? Selected data for LETTUCE Company follow:Year 2Year 1Preference share, par value P50, 10%..Ordinary share, par value P20..Share premium - ordinary share..Retained earning.P100,000 P100,000. 400,000400,000100,000100,000140,000120,00060,00010,000Net income .80,000Dividends on preference shareDividends on ordinary shareMarket price per share, Dec 31..10,00050,00040,00028.0021.00

Earnings available for ordinary shares = Net Income - Dividend on preference share Year 1 = P60,000…

Selected data for LETTUCE Company follow: Year 2 Year 1 Preference share, par value P50, 10%.. Ordinary share, par value P20 . Share premium – ordinary share. Retained earnings.. Net income . P100,000 P100,000 400,000 400,000 100,000 100,000 140,000 120,000 80,000 60,000 Dividends on preference share Dividends on ordinary share Market price per share, Dec 31.. 10,000 10,000 50,000 40,000 ...... 28.00 21.00

Selected data for LETTUCE Company follow: Year 2 Year 1 Preference share, par value P50, 10%.. Ordinary share, par value P20 . Share premium – ordinary share. Retained earnings.. Net income . P100,000 P100,000 400,000 400,000 100,000 100,000 140,000 120,000 80,000 60,000 Dividends on preference share Dividends on ordinary share Market price per share, Dec 31.. 10,000 10,000 50,000 40,000 ...... 28.00 21.00

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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