The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of N2.00 each. The amount of dividend declared is

Assessment: WAEC SSCE - Financial Accounting - 2019 (Objective) Subject: Financial Accounting

Question 1 Report

The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of N2.00 each. The amount of dividend declared is 

Answer Details
The amount of dividend declared is N200,000. To calculate this, you first need to find out the total value of the company's ordinary share capital, which is 1,000,000 shares x N2.00 per share = N2,000,000. Next, you take 10% of this amount to find the dividend, which is 10% of N2,000,000 = N200,000. So the directors of Olu Ltd. declared a dividend of N200,000.
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