Post Utme Achievers University 2018 Accounting Question 33

Practice objective / multiple choice question 33 from the 2018 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2018 Accounting Objective / Multiple Choice
Question 33 POST_UTME_ACHIEVERS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions occurred during the year: Purchased office supplies for ₦10,000, Sold merchandise for ₦50,000, and Paid salaries of ₦20,000. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Supplies ₦10,000, Credit Cash ₦10,000
B. Debit Cash ₦50,000, Credit Sales Revenue ₦50,000
C. Debit Salaries Expense ₦20,000, Credit Cash ₦20,000
D. Debit Office Supplies ₦10,000, Credit Salaries Expense ₦10,000
Correct Answer
A
Correct Option:
Debit Office Supplies ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Achievers University 2018 Accounting Question 33. It is one of the objective questions from the 2018 Post Utme Achievers University Accounting examination.

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