Post Utme Caleb University 2017 Accounting Question 26

Practice objective / multiple choice question 26 from the 2017 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2017 Accounting Objective / Multiple Choice
Question 26 POST_UTME_CALEB_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦12,000 in the account 'Rent Received' and a credit balance of ₦8,000 in the account 'Rent Paid'. The correct journal entry to record this transaction is:

Answer Options

A. ₦4,000 debit to Rent Paid and ₦4,000 credit to Rent Received
Correct Answer B. ₦4,000 debit to Rent Received and ₦4,000 credit to Rent Paid
C. ₦8,000 debit to Rent Paid and ₦12,000 credit to Rent Received
D. ₦12,000 debit to Rent Received and ₦8,000 credit to Rent Paid
Correct Answer
B
Correct Option:
₦4,000 debit to Rent Received and ₦4,000 credit to Rent Paid

About This Question

This is Post Utme Caleb University 2017 Accounting Question 26. It is one of the objective questions from the 2017 Post Utme Caleb University Accounting examination.

View More Post Utme Caleb University 2017 Accounting Questions More Post Utme Caleb University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support