Use the following to answer this question. Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 at ₦1 each. At the of the first call, all shareholders paid in full, except for two shareholder who owes ₦20,000. The Unissued capital of the company is

Use the following to answer this question.

Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 at ₦1 each. At the of the first call, all shareholders paid in full, except for two shareholder who owes ₦20,000.

The Unissued capital of the company is

A â¦310,000
B â¦200,000
C â¦210,000
D â¦100,000

jamb 2019 accounting

The correct answer is D. â¦100,000

Unissuer capital is the total amount which has not been issued out on the authorized, nominal or registered capital.

Therefore, unissued capital = Authorized

capital - issued capital which is :

200,000 - 100,000 = â¦100,000

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