The shareholders' equity of Garnet Corporation on December 31, 2021 showed the following items: 8% Preference Share Capital par P100, 20,000 shares authorized, 16,000 shares issued and outstanding P1,600,000 Ordinary Share Capital par P200, 20,000 shares authorized, 16,000 shares issued and outstanding 3,200,000 Share Premium - Preference 80,000 Share Premium - Ordinary 320,000 Retained Earnings 1,300,000 Dividends declared in 2021 was P800,000. No dividends were declared from January 1, 2018. Determine dividends paid to preference shareholders and ordinary shareholders in total and per share in 2021, assuming preference shares are: 1. non-cumulative, non-participating 2. cumulative, non-participating 3. non-cumulative, fully participating 4. cumulative, fully participating 5. cumulative, participating up to 10% only

The shareholders' equity of Garnet Corporation on December 31, 2021 showed the following items: 8% Preference Share Capital par P100, 20,000 shares authorized, 16,000 shares issued and outstanding P1,600,000 Ordinary Share Capital par P200, 20,000 shares authorized, 16,000 shares issued and outstanding 3,200,000 Share Premium - Preference 80,000 Share Premium - Ordinary 320,000 Retained Earnings 1,300,000 Dividends declared in 2021 was P800,000. No dividends were declared from January 1, 2018. Determine dividends paid to preference shareholders and ordinary shareholders in total and per share in 2021, assuming preference shares are: 1. non-cumulative, non-participating 2. cumulative, non-participating 3. non-cumulative, fully participating 4. cumulative, fully participating 5. cumulative, participating up to 10% only

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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