Post Utme Delsu 2024 Accounting Question 26

Practice objective / multiple choice question 26 from the 2024 Post Utme Delsu Accounting examination.

Post Utme Delsu 2024 Accounting Objective / Multiple Choice
Question 26 POST_UTME_DELSU • 2024 • 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 the share capital account. Prepare the journal entry to record the issue of shares.

Answer Options

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

About This Question

This is Post Utme Delsu 2024 Accounting Question 26. It is one of the objective questions from the 2024 Post Utme Delsu Accounting examination.

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