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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.


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