Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. v corp. has 10,000, 6% cumulative preference share

V Corp. has 10,000, 6% cumulative preference shares, issued at P 100 each and 100,000...

60.1K

Verified Solution

Question

Accounting

V Corp. has 10,000, 6% cumulative preference shares, issued at P 100 each and 100,000 issued ordinary shares at December 31, 2019. If the board of directors declares a P 40,000 dividend, the

A. Preference shareholders will receive P 60,000.

B. Preference shareholders will receive the entire P 40,000.

C. Preference shareholders will receive 1/10th of what the ordinary shareholders will receive.

D. Preference shareholders will receive P 20,000 and the ordinary shareholders will receive P 20,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students