Post Utme Achievers University 2018 Accounting Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2018 Accounting Objective / Multiple Choice
Question 11 POST_UTME_ACHIEVERS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a debit balance of ₦12,000. The company's bank statement shows a credit balance of ₦15,000. What is the correct journal entry to reconcile the cash book and bank statement?

Answer Options

Correct Answer A. ₦3,000 debit to Cash and ₦3,000 credit to Bank
B. ₦3,000 credit to Cash and ₦3,000 debit to Bank
C. ₦12,000 debit to Cash and ₦15,000 credit to Bank
D. ₦15,000 debit to Cash and ₦12,000 credit to Bank
Correct Answer
A
Correct Option:
₦3,000 debit to Cash and ₦3,000 credit to Bank

About This Question

This is Post Utme Achievers University 2018 Accounting Question 11. It is one of the objective questions from the 2018 Post Utme Achievers University Accounting examination.

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