Use the following to answer this question. Industry ltd issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 at ₦1 each. At the of the first call, all shareholders paid in full, except for two shareholders who owes ₦20,000. |
A. #70,000
B. ₦80,000
C. ₦220,000
D. ₦120,000
Correct Answer: Option B
B. ₦80,000
Explanation
Paid-up capital is the total amount paid up or credited as paid up, on the issued share capital.
From the question above, the issued share capital is ₦100,000 and two of the shareholder owes ₦20,000. Therefore, the paid-up is 100,000 – 20,000 = ₦80,000.
This is a List of all the Courses offered in University of Ilesa (UNILESA), a young…
This is a list of Courses in Kogi State University (KSU) in Kabba, Nigeria a…
This is a List of Courses offered in Sa'adatu Rimi University of Education(SRUOE), located in…
This is a List of Courses offered in Emmanuel Alayande University of Education (EAUED) in…
This is a List of all the Courses offered in Shehu Shagari College of Education,…
This is a List of all the Courses offered in Lagos State University of Science…