Accounting 0452 · IGCSE · Limited companies

Limited companies — practice question

T Limited was established on 1 April 2019. In total, $220\ 000$ shares of $2 each$ were issued, and the shareholders were required to settle $75\%$ of the share value at once, with the remaining $25\%$ payable on 1 April 2020. By 1 June 2019, the holders of $190\ 000$ shares had met the amount payable. What was the paid up capital on 1 June 2019?

  • A$285\ 000
  • B$330\ 000
  • C$380\ 000
  • D$440\ 000

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