Question on: JAMB Accounting - 2010
Given:
N6 000 10% preference shares of N0.50 each
N6 000 ordinary shares of N1 each
Capital reserves N2 700 000
Long-term liabilities N4 000 000
Find the value of authorized share capital?
A
13 000 000
B
12 000 000
C
9 000 000
D
15 700 000
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Correct Option: C
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