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?
A 13 000 000
B 12 000 000
C 9 000 000
D 15 700 000
Answer is C
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