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What is the dividend payable to the ordinary shareholders

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Question - On December 31, 2013, Arp Company had outstanding 30,000 5% cumulative and fully participating preference shares, P100 par, and 200,000 ordinary shares, P10 par. No dividends were in arrears on December 31, 2012. On December 31, 2013, the entity declared dividend of P1,000,000. What is the dividend payable to the ordinary shareholders?

Reference no: EM132978588

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