These account balances at December 31 relate to Sportaid Inc.:Accounts Payable...$ 51,700 Preferred Shares, $0.01,Accounts Receivable.81,350 890,000 shares issued89,000Common Shares593,000 Retained Earnings71,800Bonds Payable.3,400 Notes Receivable.12,500If the average issue price of Sportaid's outstanding common shares is $11.86, how many common shares are issued and outstanding?A. 50,000B. 593,000C. 100,000D. Unknown

The outstanding shares are the shares for which dividend is declared. The average price per share…

Answered: se account balances at December 31…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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