Post Utme Christopher University 2021 Accounting Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2021 Accounting Objective / Multiple Choice
Question 11 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ACCOUNTING • objective

A company issued 10,000 shares of 1 par value at a premium of 3 per share. The proceeds from the issue were credited to a share capital account. Prepare the journal entry to record the issue of the shares.

Answer Options

A. Debit Share Capital 30,000, Credit Cash 30,000
Correct Answer B. Debit Share Capital 30,000, Credit Share Premium 30,000
C. Debit Share Capital 10,000, Credit Cash 10,000
D. Debit Share Capital 10,000, Credit Share Premium 10,000
Correct Answer
B
Correct Option:
Debit Share Capital 30,000, Credit Share Premium 30,000

About This Question

This is Post Utme Christopher University 2021 Accounting Question 11. It is one of the objective questions from the 2021 Post Utme Christopher University Accounting examination.

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