Zigma Corporation Is Authorized to Issue 2,000,000 $4 Par Value

question 77

Multiple Choice

Zigma Corporation is authorized to issue 2,000,000 $4 par value shares. The corporation issued half the shares for cash at $8 per share, earned $336,000 during the first three months of operation, and declared a cash dividend of $60,000. The issued and fully paid capital of Zigma Corporation after three months of operation is:

• A) $7,940,000.
• B) $8,000,000.
• C) $8,276,000.
• D) $8,336,000.

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