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Oceana Ltd Issued 1 000 000 Ordinary Shares on 21

Question 30

Multiple Choice

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.
-At 31 December 20X1 the:


A) paid-up amount of Oceana Ltd's capital was $1 000 000
B) issued amount of Oceana Ltd's capital was $1 500 000
C) authorised capital of Oceana Ltd was $1 000 000
D) uncalled amount of Oceana Ltd's capital was $750 000

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