Post Utme Mountain Top University 2018 Accounting Question 5

Practice objective / multiple choice question 5 from the 2018 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2018 Accounting Objective / Multiple Choice
Question 5 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2018 • ACCOUNTING • objective

A company issued 10,000, 5% preference shares of ₦10 each at a premium of ₦2. Calculate the amount received from shareholders and the amount of premium on the shares.

Answer Options

A. ₦100,000
Correct Answer B. ₦110,000
C. ₦120,000
D. ₦130,000
Correct Answer
B
Correct Option:
₦110,000

About This Question

This is Post Utme Mountain Top University 2018 Accounting Question 5. It is one of the objective questions from the 2018 Post Utme Mountain Top 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