Damsel Corporation is authorized to issue 6,000,000 shares of $1 par value capital stock. The corporation issued half the stock for cash at $4 per share, earned $411,000 during its first three months of operations, and declared a cash dividend of $80,000. What is the amount of the total paid-in capital of Damsel Corporation after its first three months of operations? Multiple Choice $12,331,000 $11,920,000 $12,411,000 $12,000,000

Damsel Corporation is authorized to issue 6,000,000 shares of $1 par value capital stock. The corporation issued half the stock for cash at $4 per share, earned $411,000 during its first three months of operations, and declared a cash dividend of $80,000. What is the amount of the total paid-in capital of Damsel Corporation after its first three months of operations? Multiple Choice $12,331,000 $11,920,000 $12,411,000 $12,000,000

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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