Post Utme Bells University 2024 Accounting Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Bells University Accounting examination.

Post Utme Bells University 2024 Accounting Objective / Multiple Choice
Question 6 POST_UTME_BELLS_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the account 'Office Supplies'. However, the company's accountant claims that the correct balance should be a credit of ₦20,000. What is the correct treatment for this discrepancy?

Answer Options

A. Debit the Office Supplies account by ₦50,000 and credit the Miscellaneous Expenses account by ₦50,000.
Correct Answer B. Credit the Office Supplies account by ₦20,000 and debit the Miscellaneous Expenses account by ₦20,000.
C. Debit the Office Supplies account by ₦50,000 and credit the Office Expenses account by ₦20,000.
D. Credit the Office Supplies account by ₦20,000 and debit the Office Expenses account by ₦50,000.
Correct Answer
B
Correct Option:
Credit the Office Supplies account by ₦20,000 and debit the Miscellaneous Expenses account by ₦20,000.

About This Question

This is Post Utme Bells University 2024 Accounting Question 6. It is one of the objective questions from the 2024 Post Utme Bells University Accounting examination.

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