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Question - At December 31, 2021 and 2022, Jay Mart Company had outstanding 4,000 shares of P100 par value, 12% cumulative, fully participating preference shares and 20,000, P10 par value ordinary shares. At December 31, 2021, dividends in arrears on the preference shares were P24,000. Cash dividends declared in 2022 totaled P108,000.
Required -
1. What is the total amount of dividends payable to preference shareholders?
2. What is the amount of dividend payable to each ordinary share?
Prepare the necessary journal entries in 2017 when the stock option plan was adopted, in 2018 when the options were granted, in 2019 when the options lapsed
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Cost-volume-profit analysis can also be used in making personal financial decisions. For example, the purchase of a new car is one of your biggest personal expenditures. It is important that you carefully analyze your options.
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The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31, 2013. Prepare a bank reconciliation for this company as of July 31, 2013. Prepare the journal entries necess..
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