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.
₦310,000 -
B.
₦200,000 -
C.
₦210,000 -
D.
₦100,000
Correct Answer: Option D
Explanation
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 = ₦100,000