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Table 13-1
the Following Selected List of Accounts with Their

question 29

Multiple Choice

Table 13-1
The following selected list of accounts with their normal balances was taken from the general ledger of Grant Corporation as of December 31, 2014:
 Cash $173,500 Common shares, 100,000 shares authorized, 38,000 shares issued 190,000 Retained earning 131,500 Cash dividends payable 25,000 Preferred shares, 300,000 shares authorized 200,000 shares issued 500,000\begin{array}{|l|r|}\hline \text { Cash } & \$ 173,500 \\\hline \text { Common shares, } 100,000 \text { shares authorized, } 38,000 \text { shares issued } & 190,000 \\\hline \text { Retained earning } & 131,500 \\\hline \text { Cash dividends payable } & 25,000 \\\hline \text { Preferred shares, } 300,000 \text { shares authorized } 200,000 \text { shares issued } & 500,000 \\\hline\end{array}
-Refer to Table 13-1.The average issue price of a common share was:


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