Post Utme Al Hikmah University 2024 Accounting Question 18

Practice objective / multiple choice question 18 from the 2024 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2024 Accounting Objective / Multiple Choice
Question 18 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦120,000. The bank statement shows a credit balance of ₦150,000. The difference between the two balances is due to a dishonored cheque of ₦20,000. What is the correct journal entry to rectify the discrepancy?

Answer Options

A. Debit Cash A/c ₦20,000, Credit Bank A/c ₦20,000
Correct Answer B. Debit Bank A/c ₦20,000, Credit Cash A/c ₦20,000
C. Debit Cash A/c ₦20,000, Credit Bank A/c ₦20,000
D. Debit Bank A/c ₦20,000, Credit Cash A/c ₦20,000
Correct Answer
B
Correct Option:
Debit Bank A/c ₦20,000, Credit Cash A/c ₦20,000

About This Question

This is Post Utme Al Hikmah University 2024 Accounting Question 18. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Accounting examination.

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