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JAMB - Accounts Principles Of Accounts (2019 - No. 12)

Use the following to answer this question.
Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 at ₦1 each. At the of the first call, all shareholders paid in full, except for two shareholder who owes ₦20,000.
Use the following to answer this question.
Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 at ₦1 each. At the of the first call, all shareholders paid in full, except for two shareholder who owes ₦20,000.
Use the following to answer this question.
Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 at ₦1 each. At the of the first call, all shareholders paid in full, except for two shareholder who owes ₦20,000.
The Unissued capital of the company is
₦310,000
₦200,000
₦210,000
₦100,000

Explanation

Unissuer capital is the total amount which has not been issued out on the authorized, nominal or registered capital.
Therefore, unissued capital = Authorized
capital - issued capital which is :
200,000 - 100,000 = ₦100,000

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