Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. zigma corporation is authorized to issue 7,000,000

Zigma Corporation is authorized to issue 7,000,000 shares of $2 par value capital stock. The...

50.1K

Verified Solution

Question

Accounting

Zigma Corporation is authorized to issue 7,000,000 shares of $2 par value capital stock. The corporation issued half the stock for cash at $6 per share, earned $426,000 during the first three months of operation, and declared a cash dividend of $90,000. The total paid-in capital of Zigma Corporation after three months of operation is:

a) $21,000,000

b) $17,410,000

c) $17,500,000

d) $17,926,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Expected Return Standard Deviation Portfolio A 12% 20% Portfolio B 6% 12% T-bill 3% 0% You are an investment adviser and you have the three investments above...

Finance
1.2K views

You are considering a new product launch. The project will cost $800,000, have a four-year life,...

Civil Engineering
1.2K views

Which elements of the construction industry has the greatest effect on productivity rates and why?

Physics
1.2K views

Ques 4 A pipe 10 cm in diameter contains steam at 100 C It is...

Geometry
1.2K views

a Find the component form of the velocity of the airplane b Find the actual...

Basic Math
1.2K views

A recent survey of 18 randomly selected social networking sites has a mean of 11.5...

Statistics
1.2K views

A professor wanted to find a linear model that relates the number of hours a...

Accounting
1.2K views

Computing Bond Issue Price Bushman, Inc., issues $250,000 of 9% bonds that pay interest semiannually...

Accounting
1.2K views

Schapp Corporation keeps careful track of the time required to fill orders. The times recorded...

Accounting
1.2K views

The selling and administrative expense budget is based on the production budget. True False

Accounting
1.2K views

Just 10.15 Indirect labor Indirect materials Lubricants Maintenance $12.000 7.700 1.675 3.500 Property taxes...

Finance
1.2K views

Bir ABD firmas olan TropiKana Inc., bir talyan meyve ekimi ve ileme tesisinde iyiletirmeler yapmak...