Post Utme Bowen University 2019 Accounting Question 4

Practice objective / multiple choice question 4 from the 2019 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2019 Accounting Objective / Multiple Choice
Question 4 POST_UTME_BOWEN_UNIVERSITY • 2019 • ACCOUNTING • objective

A company uses the single-entry system to record its transactions. The company's ledger shows a debit balance of ₦4,000 in the account 'Salaries Expense' and a credit balance of ₦3,000 in the account 'Cash'. What is the correct journal entry to record the adjustment for the difference between the two accounts?

Answer Options

Correct Answer A. ₦1,000 debit to Salaries Expense and ₦1,000 credit to Cash
B. ₦1,000 debit to Cash and ₦1,000 credit to Salaries Expense
C. ₦1,000 debit to Salaries Expense and ₦1,000 credit to Accounts Payable
D. ₦1,000 debit to Cash and ₦1,000 credit to Accounts Payable
Correct Answer
A
Correct Option:
₦1,000 debit to Salaries Expense and ₦1,000 credit to Cash

About This Question

This is Post Utme Bowen University 2019 Accounting Question 4. It is one of the objective questions from the 2019 Post Utme Bowen University Accounting examination.

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