Post Utme Achievers University 2025 Accounting Question 34

Practice objective / multiple choice question 34 from the 2025 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2025 Accounting Objective / Multiple Choice
Question 34 POST_UTME_ACHIEVERS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company has the following transactions: Purchased raw materials for ₦100,000, sold goods for ₦200,000, and purchased equipment for ₦50,000. Prepare a journal entry to record these transactions.

Answer Options

Correct Answer A. Debit Raw Materials ₦100,000, Credit Cash ₦100,000; Debit Sales ₦200,000, Credit Cash ₦200,000; Debit Equipment ₦50,000, Credit Cash ₦50,000
B. Debit Raw Materials ₦100,000, Credit Cash ₦100,000; Debit Cash ₦200,000, Credit Sales ₦200,000; Debit Cash ₦50,000, Credit Equipment ₦50,000
C. Debit Raw Materials ₦100,000, Credit Cash ₦100,000; Debit Sales ₦200,000, Credit Cash ₦200,000; Debit Equipment ₦50,000, Credit Cash ₦50,000
D. Debit Cash ₦100,000, Credit Raw Materials ₦100,000; Debit Cash ₦200,000, Credit Sales ₦200,000; Debit Cash ₦50,000, Credit Equipment ₦50,000
Correct Answer
A
Correct Option:
Debit Raw Materials ₦100,000, Credit Cash ₦100,000; Debit Sales ₦200,000, Credit Cash ₦200,000; Debit Equipment ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Achievers University 2025 Accounting Question 34. It is one of the objective questions from the 2025 Post Utme Achievers University Accounting examination.

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