Post Utme Nile University 2023 Accounting Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Nile University Accounting examination.

Post Utme Nile University 2023 Accounting Objective / Multiple Choice
Question 1 POST_UTME_NILE_UNIVERSITY • 2023 • ACCOUNTING • objective

A company issued 10,000 shares of 1 par value at a premium of 2 per share. The proceeds from the issue were credited to a share capital account. Prepare the journal entry to record the issue of shares.

Answer Options

Correct Answer A. Debit Share Capital 20,000, Credit Cash 20,000
B. Debit Share Capital 20,000, Credit Cash 10,000
C. Debit Share Capital 20,000, Credit Cash 30,000
D. Debit Share Capital 20,000, Credit Cash 40,000
Correct Answer
A
Correct Option:
Debit Share Capital 20,000, Credit Cash 20,000

About This Question

This is Post Utme Nile University 2023 Accounting Question 1. It is one of the objective questions from the 2023 Post Utme Nile University Accounting examination.

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