WAEC Financial Accounting 1997 Question 43

A business whose assets consisted of stock N15,000 and debtors N8,000 was bought by issuing 20,000 ordinary shares of N1 each at a premium of 20 percent.
The purchase consideration was

1. A.N24,000
2. B.N23,000
3. C.N20,000
4. D.N15,000
5. E.N8,000