Post Utme Rsu 2018 Accounting Question 31

Practice objective / multiple choice question 31 from the 2018 Post Utme Rsu Accounting examination.

Post Utme Rsu 2018 Accounting Objective / Multiple Choice
Question 31 POST_UTME_RSU • 2018 • ACCOUNTING • objective

A company issued 10,000 shares of ₦5 each at a premium of ₦3 per share. The issue expenses were ₦20,000. Prepare the journal entry for the issue of shares.

Answer Options

Correct Answer A. Debit Share Capital ₦50,000, Credit Share Premium ₦30,000, Credit Issue Expenses ₦20,000
B. Debit Share Capital ₦50,000, Credit Share Premium ₦30,000
C. Debit Share Capital ₦50,000, Credit Issue Expenses ₦20,000
D. Debit Share Capital ₦50,000, Credit Share Premium ₦30,000, Debit Issue Expenses ₦20,000
Correct Answer
A
Correct Option:
Debit Share Capital ₦50,000, Credit Share Premium ₦30,000, Credit Issue Expenses ₦20,000

About This Question

This is Post Utme Rsu 2018 Accounting Question 31. It is one of the objective questions from the 2018 Post Utme Rsu Accounting examination.

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