Post Utme Achievers University 2018 Accounting Question 6

Practice objective / multiple choice question 6 from the 2018 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2018 Accounting Objective / Multiple Choice
Question 6 POST_UTME_ACHIEVERS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent and Rates' account. However, the company's accounting records show that it has paid ₦20,000 for rent and rates. Prepare the necessary journal entry to correct the discrepancy.

Answer Options

A. ₦20,000 debit to Rent and Rates, ₦5,000 credit to Cash
B. ₦15,000 credit to Rent and Rates, ₦20,000 debit to Cash
C. ₦20,000 credit to Rent and Rates, ₦5,000 debit to Cash
Correct Answer D. ₦15,000 debit to Rent and Rates, ₦20,000 credit to Cash
Correct Answer
D
Correct Option:
₦15,000 debit to Rent and Rates, ₦20,000 credit to Cash

About This Question

This is Post Utme Achievers University 2018 Accounting Question 6. It is one of the objective questions from the 2018 Post Utme Achievers University Accounting examination.

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