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How to account for the issue of the preference shares

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Reference no: EM132696092

On 30 June 2020 Backlash Finance Ltd issued perpetual preference shares with a mandatory annualp ayment of 5% per annum of the issue price, Investors have no right to redeem the shares for cash.

Problem 1: Advise Backlash Finance how to account for the issue of the preference shares.

Reference no: EM132696092

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