Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Shares

Question:

X Ltd. Issued shares of Rs 10 each credited as fully paid to the promoters for the services rendered to incorporate the company worth of Rs 50,000. How many shares company issued to them?

Options:

5,00,000

5,000

50,000

None of these

Correct Answer:

5,000

Explanation:

Shares issued = 50,000/10= 5000 shares