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What was the amount of dividends payable to ordinary share

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Reference no: EM132946086

Mack Company reported the following outstanding share capital on December 31, 2020:

  • 30,000 preference shares, 5% cumulative, par value P10, fully participating as to dividends. No dividends were in arrears.
  • 200,000 ordinary shares, par value P1.

Problem 1: On December 31, 2019, the entity declared dividends of P100,000. What was the amount of dividends payable to ordinary share holders?

a. 10,000

b. 47,500

c. 40,000

d. 34,000

Reference no: EM132946086

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