Post Utme Caleb University 2021 Accounting Question 38

Practice objective / multiple choice question 38 from the 2021 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2021 Accounting Objective / Multiple Choice
Question 38 POST_UTME_CALEB_UNIVERSITY • 2021 • ACCOUNTING • objective

A company issues 1,000 shares of ₦10 each at a premium of ₦5 per share. If the company receives ₦15,000 in cash, what is the amount of the share premium account?

Answer Options

Correct Answer A. ₦₦5,000
B. ₦₦10,000
C. ₦₦15,000
D. ₦₦20,000
Correct Answer
A
Correct Option:
₦₦5,000

About This Question

This is Post Utme Caleb University 2021 Accounting Question 38. It is one of the objective questions from the 2021 Post Utme Caleb University Accounting examination.

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