O-LevelAccountingAccounting procedures7707/11 · May/June 2011 · Q241 Mark

A limited company provided the following information: $ issued share capital – 50 000 ordinary shares of $1 each 50 000 profit for the year ended 30 June 2010 before appropriations 13 000 transfer to general reserve on 30 June 2010 6 000 interim ordinary share dividend paid during the year 3 000 On 30 June 2010 it was decided to use the remaining profit to pay a final ordinary share dividend. What percentage final dividend would the ordinary shareholders receive?

A8%

B14%

C20%

D26%

✓ Correct answer

A: 8%

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2011 Paper 1 Variant 1, question 24.

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