JAMB - Accounts Principles Of Accounts (2015 - No. 6)
What will be the number of shares to be issued to a subscriber who applied for 50,000 units.
20,000
18,000
15,000
12,000
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
∴ Each subscriber would get 40% shares of what they applied for.
∴ 50,000 x 0.4 = 20,000 units
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