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.
Given: Prepaid b/f.......................N10?000 Cash paid during the year.........N20,000 The ...
The document authorising an officer to incur expenditure is known as ...
Which of the following is not an Appropriation account item for a company? ...
The main purpose of transaction file is ...
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS \(\be...
Given: Depreciation of plant and machinery N1,600 Factory rent N650 Indirect wages N695 General ...
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...