Post Utme Achievers University 2019 Accounting Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2019 Accounting Objective / Multiple Choice
Question 1 POST_UTME_ACHIEVERS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦1,500 in the account 'Rent Received'. What is the correct journal entry to correct this error?

Answer Options

A. ₦1,500 debit to Rent Received and ₦1,500 credit to Cash
Correct Answer B. ₦1,500 debit to Cash and ₦1,500 credit to Rent Received
C. ₦1,500 debit to Rent Received and ₦1,500 credit to Rent Paid
D. ₦1,500 debit to Rent Paid and ₦1,500 credit to Rent Received
Correct Answer
B
Correct Option:
₦1,500 debit to Cash and ₦1,500 credit to Rent Received

About This Question

This is Post Utme Achievers University 2019 Accounting Question 1. It is one of the objective questions from the 2019 Post Utme Achievers University Accounting examination.

View More Post Utme Achievers University 2019 Accounting Questions More Post Utme Achievers University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support