Post Utme Christopher University 2021 Accounting Question 26

Practice objective / multiple choice question 26 from the 2021 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2021 Accounting Objective / Multiple Choice
Question 26 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ACCOUNTING • objective

A company issued 5,000 shares of ₦1 each at a premium of ₦0.50 per share. The company also issued 2,000 ₡0 debentures at 6% interest. Prepare the journal entry to record the issue of shares and debentures.

Answer Options

A. Debit Share Capital ₣0,000, Credit Cash ₣0,000
Correct Answer B. Debit Share Capital ₥0,500, Credit Cash ₣0,000
C. Debit Share Capital ₥0,500, Credit Cash ₣0,000, Credit Debentures ₢0,000
D. Debit Share Capital ₥0,500, Credit Cash ₣0,000, Credit Debentures ₢0,000, Credit Interest ₡0,000
Correct Answer
B
Correct Option:
Debit Share Capital ₥0,500, Credit Cash ₣0,000

About This Question

This is Post Utme Christopher University 2021 Accounting Question 26. It is one of the objective questions from the 2021 Post Utme Christopher University Accounting examination.

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