Post Utme Afe Babalola University 2022 Accounting Question 30

Practice objective / multiple choice question 30 from the 2022 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2022 Accounting Objective / Multiple Choice
Question 30 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's ledger showed a balance of ₦ 50,000 in the account 'Sales'. The company's trial balance showed a balance of ₦ 60,000 in the same account. Prepare the necessary journal entry to correct the discrepancy.

Answer Options

Correct Answer A. Debit Sales ₦ 10,000, Credit Profit and Loss ₦ 10,000
B. Debit Profit and Loss ₦ 10,000, Credit Sales ₦ 10,000
C. Debit Sales ₦ 20,000, Credit Profit and Loss ₦ 20,000
D. Debit Profit and Loss ₦ 20,000, Credit Sales ₦ 20,000
Correct Answer
A
Correct Option:
Debit Sales ₦ 10,000, Credit Profit and Loss ₦ 10,000

About This Question

This is Post Utme Afe Babalola University 2022 Accounting Question 30. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Accounting examination.

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