Post Utme Veritas University 2019 Accounting Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2019 Accounting Objective / Multiple Choice
Question 7 POST_UTME_VERITAS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's balance sheet as at 31st December 2022 shows the following: Share Capital ₦1,000,000, Retained Earnings ₦500,000, and Accumulated Depreciation ₦200,000. If the company issues 10,000 new shares at ₦10 per share, what is the new balance of Share Capital?

Answer Options

A. ₦1,100,000
Correct Answer B. ₦1,200,000
C. ₦1,300,000
D. ₦1,400,000
Correct Answer
B
Correct Option:
₦1,200,000

About This Question

This is Post Utme Veritas University 2019 Accounting Question 7. It is one of the objective questions from the 2019 Post Utme Veritas 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