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What was the average issue price of the preference shares

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Reference no: EM132905675

Frankie Corporation's records included the following shareholders' equity accounts:

Preference share, P15 par, 200,000 shares authorized P2,550,000

Share premium - preference 340,000

Ordinary share, no par, P50 stated value,

100,000 shares authorized 3,000,000

Problem 1: What was the average issue price of the preference shares?

Reference no: EM132905675

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