Post Utme Covenant University 2024 Accounting Question 23

Practice objective / multiple choice question 23 from the 2024 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2024 Accounting Objective / Multiple Choice
Question 23 POST_UTME_COVENANT_UNIVERSITY • 2024 • ACCOUNTING • objective

A company issues 1,000 shares of ₦10 each at a premium of ₦5 per share. The total amount received from the issue of shares is ₦1,100,000. What is the amount received from the issue of shares at a premium?

Answer Options

A. ₦1,000,000
Correct Answer B. ₦1,050,000
C. ₦1,100,000
D. ₦1,150,000
Correct Answer
B
Correct Option:
₦1,050,000

About This Question

This is Post Utme Covenant University 2024 Accounting Question 23. It is one of the objective questions from the 2024 Post Utme Covenant University Accounting examination.

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