Post Utme Esut 2024 Accounting Question 18

Practice objective / multiple choice question 18 from the 2024 Post Utme Esut Accounting examination.

Post Utme Esut 2024 Accounting Objective / Multiple Choice
Question 18 POST_UTME_ESUT • 2024 • ACCOUNTING • objective

A company issued 10,000 £ 1 shares at a premium of £ 0.50 per share. The issue expenses were £ 3,000. Prepare the journal entry to record the issue of shares.

Answer Options

Correct Answer A. Debit Share Capital £ 10,000, Credit Share Premium £ 5,000, Credit Issue Expenses £ 3,000
B. Debit Share Capital £ 10,000, Credit Share Premium £ 5,000
C. Debit Share Capital £ 10,000, Credit Issue Expenses £ 3,000
D. Debit Share Capital £ 10,000, Credit Share Premium £ 5,000, Debit Issue Expenses £ 3,000
Correct Answer
A
Correct Option:
Debit Share Capital £ 10,000, Credit Share Premium £ 5,000, Credit Issue Expenses £ 3,000

About This Question

This is Post Utme Esut 2024 Accounting Question 18. It is one of the objective questions from the 2024 Post Utme Esut Accounting examination.

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