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?

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?

The correct answer is C. 9 000 000

6000 x 0.50 = 3000

6000 x 1 = 6000

3000 + 6000 = 9000