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How much would have been paid to each class of share

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Reference no: EM132787911

Question - Financial Accounting, IFRS International Financial Reporting Standards

Assume that MacGill Inc, paid out total cash dividends of the following amount at the end of each year:

Year, 2018, $252000 (Dividends)

Year, 2019, $600000 (Dividends)

Year, 2020, $750000 (Dividends)

Required - Assume that MacGill had $100,000 common share and 25000 shares non-cumulative preferred shares with a dividend rate of ^6 per share. How much would have been paid to each class of share in each of 2018, 2019, and 2020?

Assume instead that the preferred shares were cumulative instead of non-cumulative and were two years in arrears in 2018 (that is, no dividends had been paid in 2016 and 2017). How would that have changed your answer to the year 2018 and 2019 assuming $525000 is still paid in 2018 and $600000 is still paid in 2019?

Reference no: EM132787911

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