Post Utme Madonna University 2025 Accounting Question 18

Practice objective / multiple choice question 18 from the 2025 Post Utme Madonna University Accounting examination.

Post Utme Madonna University 2025 Accounting Objective / Multiple Choice
Question 18 POST_UTME_MADONNA_UNIVERSITY • 2025 • ACCOUNTING • objective

A company has a capital of ₦500,000, consisting of 5,000 shares of ₦100 each. If the company issues 2,000 more shares of ₦100 each at a premium of ₦20 per share, what is the amount of the premium received?

Answer Options

A. ₦40,000
B. ₦80,000
Correct Answer C. ₦120,000
D. ₦160,000
Correct Answer
C
Correct Option:
₦120,000

About This Question

This is Post Utme Madonna University 2025 Accounting Question 18. It is one of the objective questions from the 2025 Post Utme Madonna University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support