Post Utme Igbinedion University 2018 Accounting Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2018 Accounting Objective / Multiple Choice
Question 11 POST_UTME_IGBINEDION_UNIVERSITY • 2018 • ACCOUNTING • objective

A company issued 10,000 shares of 1 par value at a premium of 3 per share. The proceeds from the issue of shares were credited to a share capital account. Prepare the journal entry for 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 Igbinedion University 2018 Accounting Question 11. It is one of the objective questions from the 2018 Post Utme Igbinedion University Accounting examination.

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