A total of 400 000 shares of N1 each are to be ... - JAMB Accounting 1995 Question
A total of 400,000 shares of N1 each are to be issued by Sariki company Ltd at a price of N1.20 per share. Application were received for 600,000 shares out of which 100,000 were dishonored. If the available share were distributed pro-rata, what refund will be due a subscriber who applied for 5,000 shares?
A
N1,000
B
N1,200
C
N4,800
D
N6,000
correct option: a
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