Use the following information and answer the question below. Oruma Ltd issued 300,000 ordinary shares at N100 each. Applications were received for 200,000 s...
Question 1 Report
Use the following information and answer the question below.
Oruma Ltd issued 300,000 ordinary shares at N100 each. Applications were received for 200,000 shares and all those who applied, paid in full.
The subscribed share capital is
Oruma Ltd issued 300,000 ordinary shares at N100 each. Applications were received for 200,000 shares and all those who applied, paid in full.
The subscribed share capital is
Answer Details
The subscribed share capital refers to the number of shares applied for and fully paid by shareholders. In this case, 200,000 shares were applied for and fully paid, which means the subscribed share capital is:
200,000 shares x N100 per share = N20,000,000
Therefore, the answer is N20,000,000.
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