Oceana Ltd issued 1 000 000 ordinary shares on 21 November 20X1 under the following terms:
Issue price: $2.50
Initial called up amount: $1.00
Call of $0.75 on 21 May 20X2
Final call of $0.75 on 21 November 20X2
Peter Smith was issued 10 000 shares and his friend Wilma Jones was issued 20 000 shares.
-On 21 May 20X2, Peter did not pay his call but all other shareholders did pay.At 30 June 20X2, Peter still had not paid.At 30 June 20X2, the:
A) paid-up amount of Oceana Ltd's capital is $742 500
B) called-up amount of Oceana Ltd's capital is $750 000
C) paid-up amount of Oceana Ltd's capital is $1 742 500
D) paid-up amount and the called-up amount of Oceana Ltd's capital is $1 750 000
Correct Answer:
Verified
Q15: Oceana Ltd issued 1 000 000 ordinary
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Q17: Companies other than no-liability companies:
A)must provide a
Q18: Broadbeach Ltd was registered on 28 December
Q19: When a forfeited share parcel is re-issued
A)the
Q21: Public companies must have at least five
Q22: A trust account must be used for
Q23: An undersubscribed share issue must always be
Q24: Proprietary companies must have at least two
Q25: A prospectus will always guarantee a minimum
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