Post Utme Afe Babalola University 2019 Accounting Question 37

Practice objective / multiple choice question 37 from the 2019 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2019 Accounting Objective / Multiple Choice
Question 37 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance showed a debit balance of ₦ 10,000 in the account 'Rent Received'. The correct balance should be a credit balance of ₦ 10,000. What is the correct journal entry to correct this error?

Answer Options

A. Debit Rent Received ₦ 10,000
B. Credit Rent Received ₦ 10,000
C. Debit Rent Received ₦ 10,000, Credit Rent Paid ₦ 10,000
Correct Answer D. Credit Rent Received ₦ 10,000, Debit Rent Paid ₦ 10,000
Correct Answer
D
Correct Option:
Credit Rent Received ₦ 10,000, Debit Rent Paid ₦ 10,000

About This Question

This is Post Utme Afe Babalola University 2019 Accounting Question 37. It is one of the objective questions from the 2019 Post Utme Afe Babalola University Accounting examination.

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