Given: Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per share payable as follows; On application 46k On allotment 20k 1st Call 15k 2nd Call 19k How much is to be paid for application?

Given:

Applications were invited by the directors of Abiodun PLC for 500,000 ordinary shares of #1:00 each at #1:10 per share payable as follows;

On application 46k

On allotment 20k

1st Call 15k

2nd Call 19k

How much is to be paid for application?

The correct answer is A. #230,000

46k x 500,000 = 23,000,000 k

23000000 / 100 = 230,000