Use the information below to answer the question that follows:
A company advertised and issued ₦750,000, 12% preference shares of ₦1 each to be issued at ₦1.50 per share. Applications for ₦1,370,000 were received at 30k per share. 70k per share (including premium) was due om allotment while 25k per share was due on each of the remaining two calls. All amounts due were received . Application money for 120,000 shares was refunded to unsuccessful applicants were allotment shares on pro-rata basis.
The second and final call account was debited with?
Options
A) ordinary share capital account ₦187,500
B) 12% preference share capital ₦375,000
C) bank account ₦187,500
D) 12% preference share capital account ₦187,500 >>>>>>>>>>
The correct answer is D.
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