Post Utme Christopher University 2019 Accounting Question 14

Practice objective / multiple choice question 14 from the 2019 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2019 Accounting Objective / Multiple Choice
Question 14 POST_UTME_CHRISTOPHER_UNIVERSITY • 2019 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The journal entry for the purchase of equipment is:

Answer Options

Correct Answer A. Debit Equipment ₦50,000, Credit Cash ₦50,000
B. Debit Equipment ₦50,000, Credit Bank ₦50,000
C. Debit Bank ₦50,000, Credit Equipment ₦50,000
D. Debit Cash ₦50,000, Credit Bank ₦50,000
Correct Answer
A
Correct Option:
Debit Equipment ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Christopher University 2019 Accounting Question 14. It is one of the objective questions from the 2019 Post Utme Christopher University Accounting examination.

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