Post Utme Bells University 2021 Accounting Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Bells University Accounting examination.

Post Utme Bells University 2021 Accounting Objective / Multiple Choice
Question 6 POST_UTME_BELLS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦10,000 in the account 'Rent Received'. What is the correct journal entry to correct this error?

Answer Options

A. Debit Rent Received ₦10,000, Credit Rent Paid ₦10,000
Correct Answer B. Debit Rent Paid ₦10,000, Credit Rent Received ₦10,000
C. Debit Rent Received ₦10,000, Credit Rent Expense ₦10,000
D. Debit Rent Expense ₦10,000, Credit Rent Received ₦10,000
Correct Answer
B
Correct Option:
Debit Rent Paid ₦10,000, Credit Rent Received ₦10,000

About This Question

This is Post Utme Bells University 2021 Accounting Question 6. It is one of the objective questions from the 2021 Post Utme Bells University Accounting examination.

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