On 1 January 2014 Manbobbie Ltd Decided to Issue 40

question 37

Multiple Choice

On 1 January 2014 Manbobbie Ltd decided to issue 40 000 shares to the public, payable as follows:
50 cents initially on application
20 cents payable within one month of allotment
30 cents payable in calls due 30 September 2015.
Assuming the issue was fully subscribed and all amounts due were received by 30 June 2014. The balance of the Share Capital account on that date was:

• A) $20 000.
• B) $40 000.
• C) $28 000.
• D) $12 000.

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Definitions:

Economic System

The structured and organized way a society decides to produce, distribute, and consume goods and services.

Government Planning

The process by which governments set objectives, develop strategies, and outline activities to achieve public policy goals.

Interlocking Directorates

Are formed when an individual sits on the board of directors of two or more noncompeting companies.

Board of Directors

A group of individuals elected to represent shareholders and make decisions on major company issues, including corporate policies and strategic goals.