Question on: WAEC Accounting - 2003
Use the following information to answer the given question.
\(\begin{array}{c|c} \text{Net profit for the year} & N75.000\ \text{Ordinary share capital of 50 kobo each} & N65,000\ \text{10% Preference shares of 50 kobo each} & N100,000\end{array}\)
The amount available as dividend to ordinary shareholders is
\(\begin{array}{c|c} \text{Net profit for the year} & N75.000\ \text{Ordinary share capital of 50 kobo each} & N65,000\ \text{10% Preference shares of 50 kobo each} & N100,000\end{array}\)
The amount available as dividend to ordinary shareholders is
A
N75,000
B
N65,000
C
N55,000
D
N52,500
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Correct Option: B
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