Given: N6 000 10% preference shares of N0.50 each N6 000 ordinary shares of N1...

JAMB 2010

Given:

N6 000 10% preference shares of N0.50 each
N6 000 ordinary shares of N1 each
Capital reserves N2 700 000
Long-term liabilities N4 000 000

Find the value of authorized share capital?

A. 13 000 000
B. 12 000 000
C. 9 000 000
D. 15 700 000

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Correct Answer: Option C

Explanation

6000 x 0.50 = 3000
6000 x 1 = 6000

3000 + 6000 = 9000

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Given: N6 000 10% preference shares of N0.50 each N6 000 ordinary shares of N1...

Correct Answer: Option C

Explanation

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