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The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital...

Accounts - Principles of Accounts
JAMB 2025

The directors of Olu Ltd. recommended a dividend of 10% on 1,000,000 ordinary share capital of GH¢ 2.00 each. The amount of dividend declared is

  • A. GH¢ 10,000
  • B. GH¢ 200,000
  • C. GH¢ 100,000
  • D. GH¢ 20,000
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Correct Answer: Option B
Explanation

The share capital = GH¢2.00 × 1,000,000 = GH¢2,000,000.
Dividend = 10% of GH¢2,000,000 = GH¢200,000.

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