Question 1 Report
Ade Company Limited has an authorized capital of 80,000 shares of N20 each, out of which 30,000 shares have been fully subscribed by the public and allotted as at 31st March 2006. Other assets and liabilities were:
Creditors 35,000
Motor van 90,000
Buildings 65,000
Stock 60,000
Debtors 15,000
Cash 5,000
You are required to calculate:
(a) Issued capital
(b) Unissued capital
(c) Total Assets
(d) Working capital.