Table 13-6
the Following Selected List of Accounts with Their

question 20

Multiple Choice

Table 13-6
The following selected list of accounts with their normal balances was taken from the general ledger of Gore Ltd. as of December 31, 2017:
$$\begin{array} {| l | r| } \hline \text { Cash } & \$ 199,000 \\\hline \text { Common shares, } 10,000 \text { shares authorized, } 5,000 \text { shares issued } & 265,000 \\\hline\text { Retained earnings }& 131,5000\\\hline \text { Cash dividends payable } &20,000 \\\hline \begin{array} { l } \text { Preferred shares, 500,000 shares authorized } 100,000 \text { shares } \\\text { issued }\end{array} & 800,000 \\\hline\end{array}$$
-Refer to Table 13-6.The average issue price of a common share was:

• A) $20.00
• B) $26.50
• C) $53.00
• D) $30.00

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Definitions:

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A geopolitical strategy aimed at preventing the expansion of an enemy, notably used during the Cold War to limit the spread of communism.

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A joint federal and state program that helps with medical costs for people with limited income and resources, offering benefits not typically covered by Medicare.

Joint State-Federal Program

Programs operated and funded by both state and federal governments to serve various public needs, like Medicaid.

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