Post Utme Bsu 2020 Accounting Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Bsu Accounting examination.

Post Utme Bsu 2020 Accounting Objective / Multiple Choice
Question 21 POST_UTME_BSU • 2020 • ACCOUNTING • objective

A company's trial balance shows an error of £ 1,500 in the debit side of the Trading Account. The error is due to an incorrect posting of £ 1,500 from the Purchases Account to the Trading Account. Prepare the necessary journal entry to correct the error.

Answer Options

A. Debit Purchases Account £ 1,500, Credit Trading Account £ 1,500
Correct Answer B. Debit Trading Account £ 1,500, Credit Purchases Account £ 1,500
C. Debit Purchases Account £ 1,500, Credit Cash £ 1,500
D. Debit Trading Account £ 1,500, Credit Purchases Account £ 1,500
Correct Answer
B
Correct Option:
Debit Trading Account £ 1,500, Credit Purchases Account £ 1,500

About This Question

This is Post Utme Bsu 2020 Accounting Question 21. It is one of the objective questions from the 2020 Post Utme Bsu Accounting examination.

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