Post Utme Christopher University 2022 Accounting Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2022 Accounting Objective / Multiple Choice
Question 6 POST_UTME_CHRISTOPHER_UNIVERSITY • 2022 • 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 for the issue of shares.

Answer Options

Correct Answer A. Debit Share Capital 30,000, Credit Cash 30,000
B. Debit Share Capital 30,000, Credit Cash 40,000
C. Debit Share Capital 40,000, Credit Cash 30,000
D. Debit Share Capital 40,000, Credit Cash 40,000
Correct Answer
A
Correct Option:
Debit Share Capital 30,000, Credit Cash 30,000

About This Question

This is Post Utme Christopher University 2022 Accounting Question 6. It is one of the objective questions from the 2022 Post Utme Christopher University Accounting examination.

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