JAMB - Accounts Principles Of Accounts (2013 - No. 42)
Given:
Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per share payable as follows;
On application 46k
On allotment 20k
1st Call 15k
2nd Call 19k
How much is to be paid for application?
Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per share payable as follows;
On application 46k
On allotment 20k
1st Call 15k
2nd Call 19k
How much is to be paid for application?
#230,000
#280,000
#500,000
#550,000
Explanation
46k x 500,000 = 23,000,000 k
23000000 / 100 = 230,000
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