Post Utme Bowen University 2019 Accounting Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2019 Accounting Objective / Multiple Choice
Question 1 POST_UTME_BOWEN_UNIVERSITY • 2019 • ACCOUNTING • objective

A company uses the double-entry system to record its transactions. The company's trial balance shows a debit balance of ₦1,500 in the account 'Office Equipment' and a credit balance of ₦1,200 in the account 'Office Supplies'. What is the correct journal entry to record the adjustment for the difference between the two accounts?

Answer Options

Correct Answer A. ₦300 debit to Office Equipment and ₦300 credit to Office Supplies
B. ₦300 debit to Office Supplies and ₦300 credit to Office Equipment
C. ₦300 debit to Office Equipment and ₦300 credit to Cash
D. ₦300 debit to Office Supplies and ₦300 credit to Cash
Correct Answer
A
Correct Option:
₦300 debit to Office Equipment and ₦300 credit to Office Supplies

About This Question

This is Post Utme Bowen University 2019 Accounting Question 1. It is one of the objective questions from the 2019 Post Utme Bowen University Accounting examination.

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