Post Utme Achievers University 2025 Accounting Question 6

Practice objective / multiple choice question 6 from the 2025 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2025 Accounting Objective / Multiple Choice
Question 6 POST_UTME_ACHIEVERS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company issues 10,000 shares of ₦1 each at a premium of ₦0.50 per share. The issue expenses amount to ₦ 2,500. Prepare the journal entry to record the issue of shares.

Answer Options

Correct Answer A. Debit Share Capital ₦10,000, Credit Share Premium ₦0,50,000, Credit Issue Expenses ₦2,500
B. Debit Share Capital ₦10,000, Credit Share Premium ₦0,50,000
C. Debit Share Capital ₦10,000, Credit Issue Expenses ₦2,500
D. Debit Share Premium ₦0,50,000, Credit Issue Expenses ₦2,500
Correct Answer
A
Correct Option:
Debit Share Capital ₦10,000, Credit Share Premium ₦0,50,000, Credit Issue Expenses ₦2,500

About This Question

This is Post Utme Achievers University 2025 Accounting Question 6. It is one of the objective questions from the 2025 Post Utme Achievers University Accounting examination.

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