Post Utme Abu 2024 Accounting Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Abu Accounting examination.

Post Utme Abu 2024 Accounting Objective / Multiple Choice
Question 21 POST_UTME_ABU • 2024 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦12,000 in the 'Rent Expense' account. However, the company's accounting records show that it has paid ₦15,000 in rent for the year. What is the correct journal entry to record the error?

Answer Options

A. Debit Rent Expense ₦3,000, Credit Cash ₦3,000
Correct Answer B. Debit Rent Expense ₦3,000, Credit Rent Payable ₦3,000
C. Debit Rent Expense ₦12,000, Credit Cash ₦15,000
D. Debit Rent Expense ₦12,000, Credit Rent Payable ₦15,000
Correct Answer
B
Correct Option:
Debit Rent Expense ₦3,000, Credit Rent Payable ₦3,000

About This Question

This is Post Utme Abu 2024 Accounting Question 21. It is one of the objective questions from the 2024 Post Utme Abu Accounting examination.

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