Question on: WAEC Accounting - 2006
Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \ \hline \text{ordinary shares of ₦1 each} & 500,000\ \text{8% preference shares of ₦1 each} & 200,000\ \text{Interim dividends paid} & \ \text{- ordinary shares} & 40,000\ \text{-preference shares} & 12,000\ \text{profit for the year} & 100,000\end{array}\)
If no profit is to be retained, proposed preference shares dividend is
\(\begin{array}{c|c} & ₦ \ \hline \text{ordinary shares of ₦1 each} & 500,000\ \text{8% preference shares of ₦1 each} & 200,000\ \text{Interim dividends paid} & \ \text{- ordinary shares} & 40,000\ \text{-preference shares} & 12,000\ \text{profit for the year} & 100,000\end{array}\)
If no profit is to be retained, proposed preference shares dividend is
A
₦28,000
B
₦16,000
C
₦12,000
D
₦4,000
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Correct Option: B
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