Larry Limited has 4,000,000 ordinary sha...
Larry Limited has 4,000,000 ordinary shares of 50k each and 150,000 5% prefrence shares of ₦1 each fully paid.
|
₦ |
|
|
Net profit for the year |
90,000 |
|
Interim dividends paid: |
|
|
Ordinary shares |
25,000 |
|
Profit and loss appropriation b/f |
10,000 |
|
Goodwill written off |
1,000 |
The amount of preference shares dividends payable at the end of the year is
₦10,000
₦25,000
₦7,500
₦20,000
Correct answer is C
Preference shares dividends are calculated based on the nominal value of the preference shares and the fixed dividend rate. In this case, Larry Limited has 150,000 preference shares of ₦1 each, and the dividend rate is 5%. Therefore, the preference shares dividends payable at the end of the year is 150,000 * 1 * 5% = ₦7,500.
\(\begin{array}{c|c} & Baba & Tude\\ & N & N \\ \hline \text{Capital Accounts 1 Janu...
The accounting entry to record the premium on goodwill is to debit? ...
The sales ledger control account is also referred to as ...
Which of the following would be posted to the proprietor's capital account? ...
The total of the sales journal is entered on the ...
From the following, determine the value of the closing stock using: Feb 1 purchased 200 units @ �...
Use the following information to answer the given question \(\begin{array}{c|c} & DR & CR \\ & N...
UCHENNA ENTERPRISES: Balance sheet as at 31st December, 1993 \(\begin{array}{c|c} & N & N &a...
All cash transactions of a not-for-profit making organization are recorded in ...