JAMB - Commerce (2025 - No. 67)
A limited company has an authorized capital of 20,000,000 shares. If each share capital cost 50k and the company sold 12,000,000
shares. Its issued capital is
shares. Its issued capital is
N16,000,000
N4,000,000
N10,000,000
N6,000,000
Explanation
The issued capital of a company is the total value of shares that have been sold to shareholders. In this case, the company sold
12,000,000 shares at a cost of 50k per share.
Therefore, the issued capital is 12,000,000 shares x 0. 50 (50k to naira)
= N6,000,000.
12,000,000 shares at a cost of 50k per share.
Therefore, the issued capital is 12,000,000 shares x 0. 50 (50k to naira)
= N6,000,000.
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