Home » Past Questions » Accounts » Given:What is the value of the authorized share capital?

Given:What is the value of the authorized share capital?


Question

Given:

Share capitalIssued (₦)
600,000 10% preference shares of ₦0.50 each
600,000 ordinary shares of ₦1 each500,000
Capital reserves250,000
Revenue reserves207,000
Long-term liabilities 400,000 
 1,357,000

What is the value of the authorized share capital?

Options

A) ₦500,000

B) ₦600,000

C) ₦750,000

D) ₦1,200,000

The correct answer is C.


More Past Questions:


Discussion