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

question 141

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:
$\begin{array}{|l|r|}\hline \text { Cash } & \$ 173,500 \\\hline \text { Common shares, } 100,000 \text { shares authorized, } 38,000 \text { shares issued } & 190,000 \\\hline \text { Retained earning } & 131,500 \\\hline \text { Cash dividends payable } & 25,000 \\\hline \text { Preferred shares, } 300,000 \text { shares authorized } 200,000 \text { shares issued } & 500,000 \\\hline\end{array}$
-Refer to Table 13-1.The average issue price of a preferred share was:

• A) $2.50
• B) $6.90
• C) $5.00
• D) $3.80

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Definitions:

Create Icon

The action or process of designing a graphical symbol or emblem to represent an application, file, directory, or function on a digital interface.

Vendor List

A record that includes details of suppliers from whom a business purchases goods or services.

Invoice

A document issued by a seller to a buyer that lists goods or services provided and specifies the amount of money owed.

Products and Services List

A comprehensive categorization of the goods sold and services offered by a business, often used for inventory management and sales record.