Post Utme Achievers University 2019 Accounting Question 5

Practice objective / multiple choice question 5 from the 2019 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2019 Accounting Objective / Multiple Choice
Question 5 POST_UTME_ACHIEVERS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has the following ledger balances: ₦10,000 debit in the account 'Rent Received' ₦5,000 credit in the account 'Rent Paid' What is the correct journal entry to correct the error?

Answer Options

A. ₦10,000 debit to Rent Received and ₦10,000 credit to Cash
Correct Answer B. ₦5,000 debit to Rent Paid and ₦5,000 credit to Rent Received
C. ₦10,000 debit to Rent Received and ₦10,000 credit to Rent Paid
D. ₦5,000 debit to Rent Paid and ₦5,000 credit to Rent Received
Correct Answer
B
Correct Option:
₦5,000 debit to Rent Paid and ₦5,000 credit to Rent Received

About This Question

This is Post Utme Achievers University 2019 Accounting Question 5. It is one of the objective questions from the 2019 Post Utme Achievers University Accounting examination.

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