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Calculate and present in the total dividend distributed

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Problem 1: XTZ Company since it was organised in January 2000 has had outstanding 1 500 shares of $100 par value, 10% preference shares and 15 000 shares of $20 par value common shares. It has declared and paid dividends each year as shown below. Calculate and present in the blanks below the total dividends distributed to each class of shareholder under each of the assumptions given.

Assume preference shares are non cumulative and assume preference shares are cumulative.

Dividends declared and paid

Year 1. $10 000
Year 2. $36 000
Year 3. $60 000

Reference no: EM132759642

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