Post Utme Greenfield University 2022 Accounting Question 37

Practice objective / multiple choice question 37 from the 2022 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2022 Accounting Objective / Multiple Choice
Question 37 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • ACCOUNTING • objective

A company issues 1,000 shares of ₦10 each at a premium of ₦5 per share. The company also issues 500 debentures of ₦100 each. Prepare the journal entry to record the issue of shares and debentures.

Answer Options

Correct Answer A. Debit Share Capital ₦15,000; Credit Cash ₦15,000
B. Debit Share Capital ₦10,000; Credit Cash ₦10,000
C. Debit Share Capital ₦15,000; Credit Cash ₦10,000
D. Debit Share Capital ₦10,000; Credit Cash ₦15,000
Correct Answer
A
Correct Option:
Debit Share Capital ₦15,000; Credit Cash ₦15,000

About This Question

This is Post Utme Greenfield University 2022 Accounting Question 37. It is one of the objective questions from the 2022 Post Utme Greenfield University Accounting examination.

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