Post Utme Bsu 2019 Accounting Question 12

Practice objective / multiple choice question 12 from the 2019 Post Utme Bsu Accounting examination.

Post Utme Bsu 2019 Accounting Objective / Multiple Choice
Question 12 POST_UTME_BSU • 2019 • ACCOUNTING • objective

A company's trial balance showed an error of ₦1,000 in the debit side of the cash account. The correct balance of the cash account is ₦20,000. Prepare the necessary journal entry to rectify the error.

Answer Options

A. Debit Cash ₦1,000, Credit Bank ₦1,000
Correct Answer B. Debit Bank ₦1,000, Credit Cash ₦1,000
C. Debit Cash ₦1,000, Credit Profit and Loss Account ₦1,000
D. Credit Cash ₦1,000, Debit Profit and Loss Account ₦1,000
Correct Answer
B
Correct Option:
Debit Bank ₦1,000, Credit Cash ₦1,000

About This Question

This is Post Utme Bsu 2019 Accounting Question 12. It is one of the objective questions from the 2019 Post Utme Bsu Accounting examination.

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