Post Utme Aaua 2024 Accounting Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Aaua Accounting examination.

Post Utme Aaua 2024 Accounting Objective / Multiple Choice
Question 1 POST_UTME_AAUA • 2024 • ACCOUNTING • objective

A company issued 10,000 shares of 1 par value at a premium of 3 per share. The proceeds from the issue of shares were credited to a share capital account. Prepare the journal entry to record the issue of shares.

Answer Options

A. Debit Share Capital 30,000, Credit Cash 30,000
B. Debit Share Capital 30,000, Credit Share Premium 30,000
C. Debit Share Premium 30,000, Credit Cash 30,000
Correct Answer D. Debit Share Capital 30,000, Credit Share Premium 30,000
Correct Answer
D
Correct Option:
Debit Share Capital 30,000, Credit Share Premium 30,000

About This Question

This is Post Utme Aaua 2024 Accounting Question 1. It is one of the objective questions from the 2024 Post Utme Aaua Accounting examination.

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