Post Utme Al Hikmah University 2025 Accounting Question 29

Practice objective / multiple choice question 29 from the 2025 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2025 Accounting Objective / Multiple Choice
Question 29 POST_UTME_AL-HIKMAH_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's balance sheet shows the following balances: Assets ₦1,000,000, Liabilities ₦500,000, Equity ₦500,000. What is the correct journal entry to record the increase in assets of ₦200,000?

Answer Options

Correct Answer A. Debit Assets ₦200,000, Credit Capital ₦200,000
B. Debit Assets ₦200,000, Credit Drawings ₦200,000
C. Debit Assets ₦200,000, Credit Retained Earnings ₦200,000
D. Debit Assets ₦200,000, Credit Liabilities ₦200,000
Correct Answer
A
Correct Option:
Debit Assets ₦200,000, Credit Capital ₦200,000

About This Question

This is Post Utme Al Hikmah University 2025 Accounting Question 29. It is one of the objective questions from the 2025 Post Utme Al Hikmah University Accounting examination.

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