Post Utme Abu 2023 Accounting Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Abu Accounting examination.

Post Utme Abu 2023 Accounting Objective / Multiple Choice
Question 1 POST_UTME_ABU • 2023 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Office Supplies' and a credit balance of ₦20,000 in the account 'Office Equipment'. What is the correct journal entry to correct this error?

Answer Options

A. ₦15,000 debit to Office Supplies and ₦20,000 credit to Office Equipment
Correct Answer B. ₦20,000 debit to Office Equipment and ₦15,000 credit to Office Supplies
C. ₦35,000 debit to Office Supplies and ₦20,000 credit to Office Equipment
D. ₦20,000 debit to Office Equipment and ₦35,000 credit to Office Supplies
Correct Answer
B
Correct Option:
₦20,000 debit to Office Equipment and ₦15,000 credit to Office Supplies

About This Question

This is Post Utme Abu 2023 Accounting Question 1. It is one of the objective questions from the 2023 Post Utme Abu Accounting examination.

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