Post Utme Babcock University 2023 Accounting Question 24

Practice objective / multiple choice question 24 from the 2023 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2023 Accounting Objective / Multiple Choice
Question 24 POST_UTME_BABCOCK_UNIVERSITY • 2023 • ACCOUNTING • objective

A company purchased a piece of equipment for 10,000 cash. Prepare the journal entry to record the purchase of this equipment.

Answer Options

Correct Answer A. Debit Equipment 10,000; Credit Cash 10,000
B. Debit Cash 10,000; Credit Equipment 10,000
C. Debit Equipment 10,000; Credit Accounts Payable 10,000
D. Debit Accounts Payable 10,000; Credit Equipment 10,000
Correct Answer
A
Correct Option:
Debit Equipment 10,000; Credit Cash 10,000

About This Question

This is Post Utme Babcock University 2023 Accounting Question 24. It is one of the objective questions from the 2023 Post Utme Babcock University Accounting examination.

View More Post Utme Babcock University 2023 Accounting Questions More Post Utme Babcock University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support