Post Utme Achievers University 2017 Accounting Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2017 Accounting Objective / Multiple Choice
Question 31 POST_UTME_ACHIEVERS_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent Expense' account. However, the company's accounting records show that it has paid ₦20,000 in rent for the year. What is the correct journal entry to correct the error?

Answer Options

A. ₦15,000 debit to 'Rent Expense' and ₦20,000 credit to 'Cash'
B. ₦20,000 debit to 'Rent Expense' and ₦15,000 credit to 'Cash'
C. ₦15,000 credit to 'Rent Expense' and ₦20,000 debit to 'Cash'
Correct Answer D. ₦20,000 credit to 'Rent Expense' and ₦15,000 debit to 'Cash'
Correct Answer
D
Correct Option:
₦20,000 credit to 'Rent Expense' and ₦15,000 debit to 'Cash'

About This Question

This is Post Utme Achievers University 2017 Accounting Question 31. It is one of the objective questions from the 2017 Post Utme Achievers University Accounting examination.

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