Post Utme Babcock University 2022 Accounting Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2022 Accounting Objective / Multiple Choice
Question 11 POST_UTME_BABCOCK_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash account shows a balance of ₦125,000. The company's bank statement shows a balance of ₦120,000. The company's cash book shows a debit balance of ₦15,000. What is the correct journal entry to record the discrepancy?

Answer Options

Correct Answer A. ₦15,000 debit to Cash and ₦15,000 credit to Bank
B. ₦15,000 debit to Bank and ₦15,000 credit to Cash
C. ₦15,000 debit to Bank and ₦15,000 credit to Profit or Loss
D. ₦15,000 debit to Cash and ₦15,000 credit to Profit or Loss
Correct Answer
A
Correct Option:
₦15,000 debit to Cash and ₦15,000 credit to Bank

About This Question

This is Post Utme Babcock University 2022 Accounting Question 11. It is one of the objective questions from the 2022 Post Utme Babcock University Accounting examination.

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