Question on: WAEC Accounting - 2003
Use the following information to answer the given question.
\(\begin{array}{c|c} \text{Net profit for the year} & N75.000\ \text{Ordinary share capital of 50 kobo each} & N65,000\ \text{10% Preference shares of 50 kobo each} & N100,000\end{array}\)
Preference dividend for the year is
\(\begin{array}{c|c} \text{Net profit for the year} & N75.000\ \text{Ordinary share capital of 50 kobo each} & N65,000\ \text{10% Preference shares of 50 kobo each} & N100,000\end{array}\)
Preference dividend for the year is
A
N20,000
B
N10,500
C
N10,000
D
N7,500
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Correct Option: C
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