Please answer asap! UPVOTE will be given! No long explanation needed.GMA Corp. has 200,000 shares authorized and has the following information at the end of its first year of operation:Share Capital, ₱75 par value: ₱7,500,000Share Premium: ₱417,000Accumulated Profits: ₱1,369,000What was the issue price per share? Do not round-off intermediate computations (step calculations) but round-off final answer to nearest centavos (2 decimal places) if the final answer is not a whole number.

The issue price per share refers to the price at which the share is to be offered for sale when it…

Answered: issue price pe

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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Please answer asap! UPVOTE will be given! No long explanation needed.

GMA Corp. has 200,000 shares authorized and has the following information at the end of its first year of operation:

Share Capital, ₱75 par value: ₱7,500,000
Share Premium: ₱417,000
Accumulated Profits: ₱1,369,000

What was the issue price per share? Do not round-off intermediate computations (step calculations) but round-off final answer to nearest centavos (2 decimal places) if the final answer is not a whole number.

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