Post Utme Ui 2025 Accounting Question 24

Practice objective / multiple choice question 24 from the 2025 Post Utme Ui Accounting examination.

Post Utme Ui 2025 Accounting Objective / Multiple Choice
Question 24 POST_UTME_UI • 2025 • ACCOUNTING • objective

A company issued 10,000 shares of 1 par value at a premium of 3 per share. The proceeds from the issue of shares 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 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 Ui 2025 Accounting Question 24. It is one of the objective questions from the 2025 Post Utme Ui Accounting examination.

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