Home » Past Questions » Accounts » Use the information below to answer question .A company's authorized share capita...

Use the information below to answer question .A company's authorized share capita...


Question

Use the information below to answer question .A company's authorized share capital was one million ordinary shares at ₦1 each. Issued 80% of its shares at ₦1.10 per share. 70k was payable on application, 25k on allotment, 10k due on first call and the balance on second call.What would be the total amount received on second call?

Options

A) ₦240 000

B) ₦280 000

C) ₦40 000

D) ₦56 000

The correct answer is C.


More Past Questions:


Discussion