Post Utme Caleb University 2024 Accounting Question 40

Practice objective / multiple choice question 40 from the 2024 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2024 Accounting Objective / Multiple Choice
Question 40 POST_UTME_CALEB_UNIVERSITY • 2024 • ACCOUNTING • objective

A company issued 10,000 shares of £ 1 each at a premium of £ 0.50 per share. The company also issued 5,000 £ 100 debentures at 5% interest. Prepare the share capital account and the debenture account.

Answer Options

A. Share Capital Account: £ 10,000 + £ 5,000 = £ 15,000. Debenture Account: £ 500,000.
Correct Answer B. Share Capital Account: £ 10,000 + £ 5,000 = £ 15,000. Debenture Account: £ 500,000.
C. Share Capital Account: £ 10,000 + £ 5,000 = £ 15,000. Debenture Account: £ 500,000.
D. Share Capital Account: £ 10,000 + £ 5,000 = £ 15,000. Debenture Account: £ 500,000.
Correct Answer
B
Correct Option:
Share Capital Account: £ 10,000 + £ 5,000 = £ 15,000. Debenture Account: £ 500,000.

About This Question

This is Post Utme Caleb University 2024 Accounting Question 40. It is one of the objective questions from the 2024 Post Utme Caleb University Accounting examination.

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