How much dividends will be received by the preference shares holders?
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The ABC Corporation received subscription for 9,000 ordinary shares at P40/share, where P35 is the par value and received 40% downpayment. A month after 3,600 of said shares were in full while the rest paid an additional P20/share. By the end of the year, 500 of said subscribers were not able to pay and were declared as delinquent. How much would be debited as Receivable from highest bidder?
The ABC Corp has the following classes of share capital outstanding as of Dec 31, 2021.
Ordinary share capital, P20 par value, 20,000 shares outstanding
No dividends were paid on Preference shares for two years. On Dec 31, 2021 a total Cash dividend of P210,000 was declared.
How much dividends will be received by the preference shares holders?
a. 73,333
b. 38,222
c. 38,000
d. 120,000
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