Solution-Find and calculate amount of interim dividend paid

Find and calculate amount of interim dividend paid in cash

Assignment Help Financial Accounting

Reference no: EM132554504

The following information has been compiled from the accounting records of lulla Ltd for the year ended 30 June 2020.

Final dividend payable $500,000 - (30/06/2019); $900,000 - (30/06/2020)

Retained earnings $7,000,000- (30/06/2019); $8,500,000 - (30/06/2020)

During the year ended 30 June 2020, the company declared and paid interim dividend to all ordinary shareholders and issued 500,000 shares at $2.00 per share in cash in March 2020. The management transferred $600,000 from the retained earnings account on 30 June 2020 to set up a property maintenance reserve account in preparation of some major maintenance work suggested by the Health and Safety department. Muddy Ltd reported $3,500,000 profit for the year ended 30 June 2020.

Required:

Question 1: Calculate the amount of interim dividend paid in cash

Reference no: EM132554504

Questions Cloud

Determining the new computer program : Last year Ann Arbor Corp had $155,000 of assets, equal to its total invested capital, $305,000 of sales, $25,000 of net income, and a debt-to-total-capital

Determine the theoretical ex-rights value per share : At the beginning of the current reporting period, Determine the theoretical ex-rights value per share (2 decimal place and show workings)

Dispersion of the company net income distribution : If a company increases its use of financial leverage, then how would we generally expect that increased leverage to affect the dispersion of the company's

Define how has your personal nursing philosophy unfolded : As an art and a science, how has your personal nursing philosophy unfolded? Have there been ideas that have challenged your personal values or assumptions?

Find and calculate amount of interim dividend paid in cash : Find and Calculate the amount of interim dividend paid in cash. During the year ended 30 June 2020, the company declared and paid interim dividend

What is the additional total inventory costs : Hi Tech Corporation (HTC) expects to order 295,000 memory chips for inventory during the coming year, and it will use this inventory at a constant rate

What dollar amount of dividends that received for owning : Lee for owning the stock was 0.36. What is the dollar amount of dividends that he received for owning the stock during the year? Round to two decimal

How might you integrate evidence into the conversation : How would you approach a family or individual who chooses to use herbs rather than a known allopathic treatment (such as for diabetes, pain management).

Forming directional and volatility views : In your opinion, how can you go about forming directional and volatility views? In what ways might your directional view interact with your volatility view?

User Account

All Pages

Find and calculate amount of interim dividend paid in cash

Reference no: EM132554504

Reference no: EM132554504

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT