Reference no: EM132869085
Question - The lonesome corporation had the following classes of share outstanding as of December 31, 2021?
6% cumulative Preference share capital, 100 par, 2,000 outstanding shares outstanding 200,000
Ordinary share capital, 20 par, 20,000 shares outstanding 400,000
No dividends were paid during 2020 and 2021. On December 31, 2021, 200,000 cash dividends were declared.
Required -
1. What total amount of dividends payable to ordinary shareholders?
2. If the preference share is participating up to 10%, how much is the dividend per preference share?
3. If the preference share is fully participating, how much is the total dividend payable to the ordinary shareholders?
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