Post Utme Bsu 2021 Accounting Question 40

Practice objective / multiple choice question 40 from the 2021 Post Utme Bsu Accounting examination.

Post Utme Bsu 2021 Accounting Objective / Multiple Choice
Question 40 POST_UTME_BSU • 2021 • ACCOUNTING • objective

A company has the following transactions: Issued 1,000 shares at ₦10 per share, and received ₦5,000 cash from a supplier. Prepare the journal entries for these transactions.

Answer Options

A. Debit Cash ₦5,000, Credit Share Capital ₦5,000
B. Debit Share Capital ₦10,000, Credit Cash ₦10,000
Correct Answer C. Debit Cash ₦5,000, Credit Share Capital ₦5,000
D. Debit Share Capital ₦10,000, Credit Cash ₦10,000
Correct Answer
C
Correct Option:
Debit Cash ₦5,000, Credit Share Capital ₦5,000

About This Question

This is Post Utme Bsu 2021 Accounting Question 40. It is one of the objective questions from the 2021 Post Utme Bsu Accounting examination.

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