An Issue of 50 000 Shares at $3 Required $2

question 6

Multiple Choice

An issue of 50 000 shares at $3 required $2.20 per share to be paid at the time of application. On allotment, another $0.30 was due and a further $0.50 when determined by the board of directors. The application money in respect of the 50 000 shares was received on 8 July. On 26 July, the shares were issued with the amount due on allotment received on 15 August. The remaining $0.50 was called up on 20 September and received on 10 October. What was the balance of share capital at 11 October?

• A) $25 000
• B) $125 000
• C) $150 000
• D) $110 000

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Definitions:

Psychosocial Stages

A theory developed by Erik Erikson outlining eight stages of psychological development that individuals undergo from infancy to late adulthood.

Erikson

Refers to Erik Erikson, a psychologist known for his theory on the psychological development of humans, characterized by eight stages from infancy to adulthood.

Personality Development

The process of forming and evolving one's patterns of behavior, thoughts, and feelings that make up an individual's personality over time.

Piaget's Processes

The cognitive processes according to Jean Piaget that describe how children develop intellectual abilities, including assimilation, accommodation, and equilibration.