Question: Please help to solve this problem. The course subject is Intermediate Accounting. Thank you. 1. At December 31, 2013 and 2014, Sloan Corp. had outstanding

Please help to solve this problem. The course subject is Intermediate Accounting. Thank you.

1. At December 31, 2013 and 2014, Sloan Corp. had outstanding 9,000 shares of P100 par value 8% cumulative preference shares and 30,000, P10 par value, ordinary shares. At December 31, 2013, dividends in arrears on the preference shares were P36,000. Cash dividends declared in 2014 totaled P135,000.

What amounts were payable on each class of share?

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