Post Utme Bowen University 2018 Accounting Question 31

Practice objective / multiple choice question 31 from the 2018 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2018 Accounting Objective / Multiple Choice
Question 31 POST_UTME_BOWEN_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the account 'Rent Received'. What is the correct journal entry to correct this error?

Answer Options

Correct Answer A. ₦50,000 debit to Rent Received and ₦50,000 credit to Cash
B. ₦50,000 debit to Cash and ₦50,000 credit to Rent Received
C. ₦50,000 debit to Rent Received and ₦50,000 credit to Rent Paid
D. ₦50,000 debit to Rent Paid and ₦50,000 credit to Rent Received
Correct Answer
A
Correct Option:
₦50,000 debit to Rent Received and ₦50,000 credit to Cash

About This Question

This is Post Utme Bowen University 2018 Accounting Question 31. It is one of the objective questions from the 2018 Post Utme Bowen University Accounting examination.

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