MCDO corporation has 4000,000 ordinary shares outstanding and 500,000 outstanding preference shares 6%, 100 par cumulative. Due to decline on sales, no dividend were declared for the last 2 years. This year the company returned to profitability and declared 1 peso dividend for ordinary shares to be paid at year end. The company would have to pay how much dividend for the year? O 13,000,000 O 10,000,000 O 7,000,000 O 13,500,000

MCDO corporation has 4000,000 ordinary shares outstanding and 500,000 outstanding preference shares 6%, 100 par cumulative. Due to decline on sales, no dividend were declared for the last 2 years. This year the company returned to profitability and declared 1 peso dividend for ordinary shares to be paid at year end. The company would have to pay how much dividend for the year? O 13,000,000 O 10,000,000 O 7,000,000 O 13,500,000

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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