Kent Ltd Issued 15 000 Shares with an Issue Price

Multiple Choice

Kent Ltd issued 15 000 shares with an issue price of $1.60 on which the full price has been paid to the company. The maximum additional amount the shareholders can be asked to contribute if the company cannot pay its debts is:

A) $1.60 per share or $24 000.
B) Nil.
C) 60c per share or $9000.
D) There is no limit on the amount the shareholders can be asked to contribute.