Dr. Fe R.

Ochotorena ACT 1102 - 2nd SEMESTER, SY 2018-2019

FAR EASTERN UNIVERSITY-MANILA

Institute of Accounts, Business & Finance
Department of Accountancy & Internal Auditing

ACT 1102- Conceptual Framework and Accounting Standards

Given:
18% Preference Share Capital, par value of P100, 10,000 shares issued and
outstanding

Ordinary Share Capital, par value of P50, 5,000 shares issued and outstanding

No dividends were declared for the past two years

Unrestricted Retained Earnings, P1,500,000

The Board declared cash dividends of P600,000 only