Post Utme Crawford University 2019 Accounting Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2019 Accounting Objective / Multiple Choice
Question 1 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ACCOUNTING • objective

A company issued 10,000 shares of ₦ 1 each at a premium of ₦ 2 per share. The company also issued 5% debentures of ₦ 10,000. Prepare the journal entries for the issue of shares and debentures.

Answer Options

Correct Answer A. Debit Share Capital ₦ 20,000, Credit Cash ₦ 20,000
B. Debit Share Capital ₦ 10,000, Credit Cash ₦ 10,000
C. Debit Share Capital ₦ 20,000, Credit Cash ₦ 10,000
D. Debit Share Capital ₦ 10,000, Credit Cash ₦ 20,000
Correct Answer
A
Correct Option:
Debit Share Capital ₦ 20,000, Credit Cash ₦ 20,000

About This Question

This is Post Utme Crawford University 2019 Accounting Question 1. It is one of the objective questions from the 2019 Post Utme Crawford University Accounting examination.

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