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What amount should be reported as dividend payable

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Question - On December 31, 2020 and 2021, Can Company had outstanding 40,000 6% cumulative preference shares of P100 par value and 200,000 ordinary shares of P10 par value. On December 31, 2020 preference dividends in arrears amounted to P120,00. Cash dividends declared in 2021 totaled P440,000. What amount should be reported as dividend payable to preference and ordinary shares, respectively in 2021?

Reference no: EM133184754

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