issue price pe
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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