Post Utme Redeemers University 2022 Accounting Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2022 Accounting Objective / Multiple Choice
Question 16 POST_UTME_REDEEMERS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company issued 10,000 shares of 1 par value at a premium of 3 per share. The proceeds from the issue were credited to the share capital account. Prepare the journal entry to record the issue of shares.

Answer Options

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

About This Question

This is Post Utme Redeemers University 2022 Accounting Question 16. It is one of the objective questions from the 2022 Post Utme Redeemers University Accounting examination.

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