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ere in arrears. (2) ary shares, par value P1 per share. On December 15, 20x1, Arp declared ends of P100,000. What was the amount of dividends payable tO Arp's ary stockholders? 0,000 34,000

ere in arrears. (2) ary shares, par value P1 per share. On December 15, 20x1, Arp declared ends of P100,000. What was the amount of dividends payable tO Arp's ary stockholders? 0,000 34,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Arp Corp.s outstanding capital stock at December 15, 20x1, consisted of the following: (1) 30,000, 5% cumulative preference shares, par value P10 per share, fully participating as to dividends. No dividends were in arrears, (2) 200,000 ordinary shares, par value P1 per share. On December 15, 20x1, Arp declared dividends of P100,000, What was the amount of dividends payable to Arp's ordinary stockholders? 10,000 O 34.000 O 40.000 O 47,500
Transcribed Image Text:Arp Corp.s outstanding capital stock at December 15, 20x1, consisted of the following: (1) 30,000, 5% cumulative preference shares, par value P10 per share, fully participating as to dividends. No dividends were in arrears, (2) 200,000 ordinary shares, par value P1 per share. On December 15, 20x1, Arp declared dividends of P100,000, What was the amount of dividends payable to Arp's ordinary stockholders? 10,000 O 34.000 O 40.000 O 47,500
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