Question
JDE Inc. declared a P 240,000 cash dividend. It currently has 9,000 shares of 7%, P 100 par value cumulative, non participating preferred share outstanding.
JDE Inc. declared a P 240,000 cash dividend. It currently has 9,000 shares of 7%, P 100 par value cumulative, non participating preferred share outstanding. It is one year in arrears on its preferred share. How much cash will JDE distribute to the ordinary shareholders?
a. P 126,000.
b. None.
c. P 177,000.
d. P 114,000.
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Accounting Information And Equity Valuation Theory, Evidence, And Applications
Authors: Guochang Zhang
1st Edition
1461481597, 9781461481591
