GCE Commerce 1989 Question 77

Use the following information to answer Questions 76-78: A company had an authorized share capital of N30,000. It offered applicants N20,000 share capital out of which the company collected N15,000.
What was the paid-up capital?

1. A.N35,000
2. B.N30,000
3. C.N20,000
4. D.N15,000
5. E.N5,000