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Question - At December 31,2021 and2022, Jay Mart Company had outstanding 4,000 shares of P100 par value, 12% cumulative, fully participating preference shares and 20,000, P10 par value ordinary shares. At December 31, 2021, dividends in arrears on the preference shares were P24,000. Cash dividends declared in 2022 totaled P108,000.
Required -
1. What is the total amount of dividends payable to preference shareholders?
2. What is the amount of dividend payable to each ordinary share?
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