Post Utme Al Hikmah University 2024 Accounting Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2024 Accounting Objective / Multiple Choice
Question 15 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ACCOUNTING • objective

The following transactions occurred during the month of January: (a) purchased office equipment for ₦50,000, (b) sold goods for ₦100,000, (c) paid salaries of ₦20,000. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Equipment ₦50,000, Credit Cash ₦50,000
B. Debit Cash ₦100,000, Credit Sales ₦100,000
C. Debit Salaries ₦20,000, Credit Cash ₦20,000
D. Debit Office Equipment ₦50,000, Credit Sales ₦50,000
Correct Answer
A
Correct Option:
Debit Office Equipment ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Al Hikmah University 2024 Accounting Question 15. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Accounting examination.

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