Post Utme Ksu 2018 Accounting Question 30

Practice objective / multiple choice question 30 from the 2018 Post Utme Ksu Accounting examination.

Post Utme Ksu 2018 Accounting Objective / Multiple Choice
Question 30 POST_UTME_KSU • 2018 • ACCOUNTING • objective

A company issued 10,000 shares of ₦10 each 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 to record the issue of shares.

Answer Options

A. Debit Share Capital ₦100,000, Credit Cash ₦100,000
B. Debit Share Capital ₦120,000, Credit Cash ₦120,000
Correct Answer C. Debit Share Capital ₦100,000, Credit Cash ₦100,000
D. Debit Share Capital ₦120,000, Credit Cash ₦100,000
Correct Answer
C
Correct Option:
Debit Share Capital ₦100,000, Credit Cash ₦100,000

About This Question

This is Post Utme Ksu 2018 Accounting Question 30. It is one of the objective questions from the 2018 Post Utme Ksu Accounting examination.

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