Reference no: EM132892448
Question - The Lion Corporation had the following classes of share outstanding as of December 31, 2020:
6% Preference share capital, P20 par value,
10,000 shares outstanding P200,000
Ordinary share capital, P10 par value, 30,000 shares outstanding 300,000
No dividends were paid on preference share for 2018 and 2019. On December 31, 2020, a total cash dividend of P150,000 was declared.
Required -
1. If preference is cumulative and non-participating, how much is the total dividends payable to preference and ordinary shareholders, respectively?
2. If preference is cumulative and fully participating, how much is the dividend per share payable to preference shareholders?
3. If preference is non-cumulative and non-participating, what is the rate of dividend payable to ordinary shareholders?
4. If preference is non-cumulative and participating up to 10%, how much is the total dividend payable to preference shareholders?
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