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.
-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
Correct Answer:
Verified
Q6: A bonus issue<br>A)gives shareholders additional shares without
Q7: John wants to set up a proprietary
Q8: Registration of a newly-formed company is done
Q9: Broadbeach Ltd was registered on 28 December
Q10: Strontium Ltd had owner's equity of
Q12: An undersubscribed share issue must always be
Q13: A preference share<br>A)may give the holder a
Q14: Strontium Ltd had owner's equity of
Q15: Companies other than no-liability companies:<br>A)must provide a
Q16: A prospectus will always guarantee a minimum