What is the amount of cash dividend payable

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Question - Nyorky had the following classes of shares outstanding as of 31 December 2014:

Ordinary shares, $20 par value, 20,000 shares outstanding;

Preference shares, 6% cumulative, $100 par value, 1,000 shares outstanding.

The last payment of preference dividend was on 31 December 2011. On 31 December 2014, a total cash dividend of $90,000 was declared. What is the amount of cash dividend payable to ordinary shares in 2014? What is the amount of cash dividend payable to preference shares in 2014? Assuming that preference shares are non-cumulative, how much cash dividends will ordinary shares receive in 2014?

Reference no: EM132935773

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