Post Utme Eksu 2018 Accounting Question 26

Practice objective / multiple choice question 26 from the 2018 Post Utme Eksu Accounting examination.

Post Utme Eksu 2018 Accounting Objective / Multiple Choice
Question 26 POST_UTME_EKSU • 2018 • ACCOUNTING • objective

A company issued 10,000 shares of ₦ 1 each at a premium of ₦ 2 per share. The issue expenses were ₦ 5,000. Prepare the journal entry to record the issue of shares.

Answer Options

Correct Answer A. Debit Share Capital ₦ 20,000, Credit Cash ₦ 20,000
B. Debit Share Capital ₦ 30,000, Credit Cash ₦ 30,000
C. Debit Share Capital ₦ 20,000, Credit Cash ₦ 15,000
D. Debit Share Capital ₦ 30,000, Credit Cash ₦ 15,000
Correct Answer
A
Correct Option:
Debit Share Capital ₦ 20,000, Credit Cash ₦ 20,000

About This Question

This is Post Utme Eksu 2018 Accounting Question 26. It is one of the objective questions from the 2018 Post Utme Eksu Accounting examination.

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