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.
Using the reducing balance method, the depreciation charged for year 2002 was Use the following i...
Which of the following is not an intangible asset? ...
The ratio which measures the solvency of a firm is the ...
Debtors and credit sales for a period are D 120,00 and D 600,00 respectively. The debtor's payme...
Working capital is measured by the excess of ...
The concise statement used to explain entries in the general journal is known as ...
The concept which seeks to prevent profits from being overstated is ...
Given: Furniture and fittings..................N20,000 Equipment...............................N...