Commerce JAMB

If the shares were fully subscribed; calculate the issued capital?

A public company has 2 000 000 ordinary shares of 50k each and offers 50% for subscription at N2 per share.

A. N4 000 000
B. N2 000 000
C. N1 000 000
D. N500 000

Correct Answer:

Option D – N500 000

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