Post Utme Abu 2021 Accounting Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Abu Accounting examination.

Post Utme Abu 2021 Accounting Objective / Multiple Choice
Question 34 POST_UTME_ABU • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦30,000 in the account 'Salaries and Wages Expense'. However, the company's accounting records show that it has not paid any salaries and wages. What is the correct treatment of this account?

Answer Options

A. Debit the account 'Salaries and Wages Expense' by ₦30,000
B. Credit the account 'Salaries and Wages Expense' by ₦30,000
C. Debit the account 'Salaries and Wages Expense' by ₦30,000 and credit the account 'Accrued Salaries and Wages' by ₦30,000
Correct Answer D. Credit the account 'Salaries and Wages Expense' by ₦30,000 and debit the account 'Accrued Salaries and Wages' by ₦30,000
Correct Answer
D
Correct Option:
Credit the account 'Salaries and Wages Expense' by ₦30,000 and debit the account 'Accrued Salaries and Wages' by ₦30,000

About This Question

This is Post Utme Abu 2021 Accounting Question 34. It is one of the objective questions from the 2021 Post Utme Abu Accounting examination.

View More Post Utme Abu 2021 Accounting Questions More Post Utme Abu Practice Questions Back to Questions

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