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Answer to Question #53054 in Other Law for Alexander

Question #53054
a) Explain the following terms using a suitable illustration
i. Subscription in arrears
ii. Issued share capital
iii. Capital expenditure

b) Differentiate between non-purchased goodwill and purchased goodwill.

c) State and briefly explain any three distinguishing features between
i. A receipts and payments account
ii. An income and expenditure account

d) A limited has an authorized share capital of 200,000 shares of Kshs. 1 each out of which only 150,000 shares have been issued. Although the firm requested the shareholders to pay 80 cents per share, they were able to pay 50 cents per share.
Required:
Determine the:
i. Authorized share capital
ii. Issued share capital
iii. Called up share capital
iv. Uncalled up share capital
v. Paid up share capital
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