The financial year of Al Muscat corporation ends on 31 December every year

Accounting Nov 16, 2020

The financial year of Al Muscat corporation ends on 31 December every year. The company has issued fully paid up 300,000 Ordinary shares of OMR 1.500 each. On 1 July 2019, the directors declared an interim dividend of 3% on its ordinary shares which was paid on 5th July 2020. Calculate the amount of interim dividend.

OMR 300,000

OMR 13,500

OMR9000

OMR 450,000

Expert Solution

Interim Dividends= 300000 *1.5 * 3%= 13500
Option B , OMR 13500 is the correct amount of Interim Dividends.

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote