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BGC PLC was incorporated on 1 January 20X8 with an authorised share capital of 100,000 shares of $2 each. On 2 January 20X8 it offered

BGC PLC was incorporated on 1 January 20X8 with an authorised share capital of 100,000 shares of $2 each. On 2 January 20X8 it offered 50,000 shares to the public for subscription and allotment was made for 50,000 shares on 15 February 20X8. On 1 April 20X8 the company made a first call of $1.80 per share and all the money was received from shareholders. Required: Calculate: a. Authorised share capital; [$200,000] b. Issued share capital; [$100,000] c. Paid-up share capital. [$90,000]

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