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: 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
