Shown Below Is Information Relating to the Shareholders' Equity of Grant

question 30

Multiple Choice

Shown below is information relating to the shareholders' equity of Grant Corporation at December 31, 2009:
$\begin{array}{lr}\text { \( 6 \% \) non-cumulative preference share, \( \$ 100 \) par, 10,000 shares authorized,}&\$600,000\\\text { 6,000 shares issued}\\\\\text { Ordinary shares, \( \$ 3 \) par, 500,000 shares authorized, 300,000 shares issued and }&\$900,000\\\text { outstanding}\\\text { Share premium: preference share } & \$ 60,000 \\\text { Share premium: ordinary share } & \$ 1,900,000 \\\text { Retained earnings } & \$ 1,090,000\end{array}$
Dividends have been declared and paid for 2009.


-Refer to the above data. The average issue price per share of Grant's preference shares was:

• A) $112.
• B) $100.
• C) $110.
• D) $66.

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Definitions:

Nonviolent Resistance

A method of protest that seeks to achieve goals through symbolic protests, civil disobedience, economic or political noncooperation, without using violence.

Christianity

A monotheistic religion based on the life and teachings of Jesus Christ, emphasizing the role of Jesus as savior and the son of God.

Communist Control Act

A U.S. federal law enacted in 1954 that aimed to outlaw the Communist Party USA and criminalize membership in, or support for, the party or "communist-action" organizations.

Communist Party

The Communist Party is a political organization that advocates for the principles of communism, where the goal is to achieve a classless society through the collective ownership of property and the means of production.