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What will be the number of shares to be issued to a subscriber who applied...

Accounts - Principles of Accounts
JAMB 2015
What will be the number of shares to be issued to a subscriber who applied for 50,000 units.
  • A. 20,000
  • B. 18,000
  • C. 15,000
  • D. 12,000
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Correct Answer: Option A
Explanation
Allotment = 500,000 = 0.4 or 40%

∴ Each subscriber would get 40% shares of what they applied for.

∴ 50,000 x 0.4 = 20,000 units
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