Post Utme Christopher University 2020 Accounting Question 1
Practice objective / multiple choice question 1 from the 2020 Post Utme Christopher University Accounting examination.
A company's trading account for the year ended 31st December 2020 shows a profit of ₦1,500,000. The balance sheet at the beginning of the year showed a capital of ₦2,000,000 and a profit and loss account balance of ₦500,000. The company issued 10,000 shares of ₦10 each at a premium of ₦5 per share. The company also issued 5,000 debentures of ₦100 each. The balance sheet at the end of the year showed a capital of ₦3,500,000 and a profit and loss account balance of ₦1,000,000. Calculate the amount of dividends paid to the shareholders.
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About This Question
This is Post Utme Christopher University 2020 Accounting Question 1. It is one of the objective questions from the 2020 Post Utme Christopher University Accounting examination.
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