Garden Gloves Company has issued 50,000 ordinary shares of 50 cents each and 20,000 7%...
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Accounting
Garden Gloves Company has issued 50,000 ordinary shares of 50 cents each and 20,000 7% preference shares of $1 each. It profits after taxation for the year to 30 September 20X5 were $8,400. The management board has decided to pay an ordinary dividend which is 50% of profits after tax and preference dividend
Required: Show the amount in total dividends ad of retained profits, and calculate the dividend per share on ordinary shares.
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