The Antik Corporation has issued both preference and ordinary shares. On January 1, 200D, the shareholders’ equity of the corporation is as follows: 6% Preference Shares, Php75 par value, authorized and Issued 40,000 shares Php3,000,000 Ordinary Shares, Php100 par value, authorized and issued 50,000 shares 1,000,000 Retained Earnings 1,500,000 Assume that dividends have not been declared since 200B. Required: 1. Compute the amount to be distributed to preference and ordinary shareholders on each of the following cases of preference share: a. Non-cumulative, non-participating b. Cumulative, non-participating c. Non-cumulative, fully participating d. Cumulative, fully participating e. Cumulative, participating up to 10% 2. Prepare the shareholders’ equity section of Antik Corporation
The Antik Corporation has issued both preference and ordinary shares. On January 1, 200D, the
shareholders’ equity of the corporation is as follows:
6% Preference Shares, Php75 par value, authorized and Issued 40,000 shares Php3,000,000
Ordinary Shares, Php100 par value, authorized and issued 50,000 shares 1,000,000
Assume that dividends have not been declared since 200B.
Required:
1. Compute the amount to be distributed to preference and ordinary shareholders on each of
the following cases of
a. Non-cumulative, non-participating
b. Cumulative, non-participating
c. Non-cumulative, fully participating
d. Cumulative, fully participating
e. Cumulative, participating up to 10%
2. Prepare the shareholders’ equity section of Antik Corporation
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