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JAMB Principles of Accounts 1997 Question 44

Question 44

Company Accounts

A dividend of 10% in a company on 500 000 ordinary shares of ₦1 nominal value has been declared. How much will a shareholder receive if he has 200 shares?

  1. A.₦500 000
  2. B.₦50 000
  3. C.₦200
  4. D.₦20
Show the answer and explanation

Answer: D (₦20)

Explanation

Dividend = 10% × 200 × ₦1 = ₦20.