Post Utme Caleb University 2019 Accounting Question 40

Practice objective / multiple choice question 40 from the 2019 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2019 Accounting Objective / Multiple Choice
Question 40 POST_UTME_CALEB_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦10,000 in the account 'Salaries and Wages' and a credit balance of ₦15,000 in the account 'Salaries and Wages Payable'. What is the correct journal entry to correct this discrepancy?

Answer Options

A. ₦5,000 debit to Salaries and Wages and ₦5,000 credit to Salaries and Wages Payable
B. ₦10,000 debit to Salaries and Wages and ₦10,000 credit to Salaries and Wages Payable
C. ₦15,000 debit to Salaries and Wages and ₦10,000 credit to Salaries and Wages Payable
Correct Answer D. ₦10,000 debit to Salaries and Wages and ₦15,000 credit to Salaries and Wages Payable
Correct Answer
D
Correct Option:
₦10,000 debit to Salaries and Wages and ₦15,000 credit to Salaries and Wages Payable

About This Question

This is Post Utme Caleb University 2019 Accounting Question 40. It is one of the objective questions from the 2019 Post Utme Caleb University Accounting examination.

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