Post Utme Abu 2022 Accounting Question 8

Practice objective / multiple choice question 8 from the 2022 Post Utme Abu Accounting examination.

Post Utme Abu 2022 Accounting Objective / Multiple Choice

Question 8 POST_UTME_ABU • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased office supplies for 1,000, Issued common stock for 10,000, Paid salaries 5,000. Prepare the journal entries for these transactions.

A. Debit Office Supplies 1,000, Credit Cash 1,000

B. Debit Cash 10,000, Credit Common Stock 10,000

C. Debit Salaries Expense 5,000, Credit Cash 5,000

Correct Answer D. Debit Office Supplies 1,000, Credit Cash 1,000, Debit Salaries Expense 5,000, Credit Cash 5,000

Correct Answer

Correct Option:

Debit Office Supplies 1,000, Credit Cash 1,000, Debit Salaries Expense 5,000, Credit Cash 5,000

This is Post Utme Abu 2022 Accounting Question 8. It is one of the objective questions from the 2022 Post Utme Abu Accounting examination.

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