Calculation of forms of capital - Jamb Commerce Past Questions and Answers

Question 6:

• JAMB 2008

Determine the company's reserve share capital?

A. N2500 000
B. N1000 000
C. N1500 000
D. N2000 000

Question 7:

• JAMB 2010

A public company with an authorized capital of N60,000, issued N36,000 shares at 1.50k each.
What is its capital?

A. N60,000
B. N36,000
C. N54,000
D. N90,000

Question 8:

• JAMB 2015

Use the information below to answer this question.
Mammy Plc, whose nominal capital is made up of 5,000,000 ordinary shares at 50K each, decide to offer 80% of it to the public and realized only 50% of the amount due.
what is the company authorized share authorized share capital?

A. N4,000,000
B. N5,000,000
C. N7,500,000
D. N2,500,000

Question 9:

• JAMB 2021

Use the information below to answer this question
A B C Balance Sheet as at 31/12/2004

₦Share capital 200,000Reserves 100,000Long term liabilities 40,000Current liabilities 30,000 370,000

₦Fixed assets 180,000Investment 100,000Current assets 50,000Fictitious assets 40,000 370,000

What is the capital employed?

A. ₦ 340,000
B. ₦ 200,000
C. ₦ 300,000
D. ₦ 170,000