Post Utme Afe Babalola University 2021 Accounting Question 4

Practice objective / multiple choice question 4 from the 2021 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2021 Accounting Objective / Multiple Choice
Question 4 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦30,000 in the 'Salaries Expense' account. However, the company's accounting records show that it paid ₦40,000 in salaries for the year. Prepare the necessary journal entry to correct the error.

Answer Options

Correct Answer A. ₦30,000 debit to Salaries Expense and ₦40,000 credit to Salaries Expense
B. ₦10,000 debit to Salaries Expense and ₦10,000 credit to Cash
C. ₦40,000 debit to Salaries Expense and ₦40,000 credit to Cash
D. ₦30,000 credit to Salaries Expense and ₦40,000 debit to Cash
Correct Answer
A
Correct Option:
₦30,000 debit to Salaries Expense and ₦40,000 credit to Salaries Expense

About This Question

This is Post Utme Afe Babalola University 2021 Accounting Question 4. It is one of the objective questions from the 2021 Post Utme Afe Babalola University Accounting examination.

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