(a) Amatco Ltd has an authorized capital of 6,000,000 ordinary shares of D5.00 per share. It issued 3,000,000 ordinary shares and all such shares were bought and paid for at D2.00 a share except 1,000 shares taken by Mr. Jones. Calculate the value of the: (i) authorized capital (ii) issued capital (iii) called-up capital (iv) paid-up capital.
(b) The following are the assets and liabilities of Morgan's Ltd:
| N | |
| cash | 8,000 |
| Building | 81,000 |
| Creditors | 6,500 |
| sales returns | 12,000 |
| Debtors | 18,000 |
| Capital | 122,000 |
| Overdraft | 11,000 |
| Motor vehicle | 20,000 |
| sales | 50,000 |
| Net profit | 20,000 |
Outline five objectives of each of the following:
(a) International Monetary Fund (IMF).
(b) European Economic Community (EEC).
On June 17, 2006, Mr. Cham wrote an order cheque of M. Sumarch for D500 drawn on Standard Chartered Bank, Bakau
(a) State the drawer, the payee and the drawee from the above information.
(b) The cheque is crossed "Account Payee only" and "Not Negotiable", Explain four effects of the crossing.
(c) State three advantages of payment by cheque.
(a) State six facilities a good seaport should have.
(b) In what four ways is transport important to commerce?
(a) Explain five functions of advertising.
(b) Explain three merits and two demerits of newspaper advertising.
