Post Utme Achievers University 2022 Accounting Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2022 Accounting Objective / Multiple Choice
Question 1 POST_UTME_ACHIEVERS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company issued 10,000 shares of ₦1 each at a premium of ₦0.50 per share. The company also issued 5% debentures of ₦10,000 at 5% discount. Prepare the share capital account and debenture account.

Answer Options

A. Share Capital Account: ₦1,000,000; Debenture Account: ₦10,000
Correct Answer B. Share Capital Account: ₦1,050,000; Debenture Account: ₦09,500
C. Share Capital Account: ₦1,000,000; Debenture Account: ₦10,000
D. Share Capital Account: ₦1,050,000; Debenture Account: ₦09,500
Correct Answer
B
Correct Option:
Share Capital Account: ₦1,050,000; Debenture Account: ₦09,500

About This Question

This is Post Utme Achievers University 2022 Accounting Question 1. It is one of the objective questions from the 2022 Post Utme Achievers University Accounting examination.

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