Homework Answers
The correct answer is: A $108000
Since the preference shares issued are cumulative preference shares, any dividend remaining unpaid in 1 year gets carried forward to the next year. This dividend should be paid before any dividend is paid to common stock holders.
Preference share Dividend accrued for 2016 = (9000*100)*4% = 36000
Preference share Dividend accrued for 2017 = 36000
Preference share Dividend accrued for 2018 = 36000
Total dividend to be paid = 108000
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