Post Utme Christopher University 2024 Accounting Question 5

Practice objective / multiple choice question 5 from the 2024 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2024 Accounting Objective / Multiple Choice
Question 5 POST_UTME_CHRISTOPHER_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has the following transactions: Purchased office supplies for ₦5,000; Purchased equipment for ₦20,000; Sold merchandise for ₦15,000; Collected cash from customers for ₦10,000; Paid salaries for ₦8,000. Prepare a journal entry for the transactions.

Answer Options

Correct Answer A. Office Supplies Expense = ₦5,000; Equipment = ₦20,000; Sales Revenue = ₦15,000; Cash = ₦10,000; Salaries Expense = ₦8,000
B. Office Supplies Expense = ₦5,000; Equipment = ₦20,000; Sales Revenue = ₦15,000; Cash = ₦10,000; Salaries Expense = ₦8,000; Office Supplies = ₦5,000
C. Office Supplies Expense = ₦5,000; Equipment = ₦20,000; Sales Revenue = ₦15,000; Cash = ₦10,000; Salaries Expense = ₦8,000; Office Supplies = ₦5,000; Equipment = ₦20,000
D. Office Supplies Expense = ₦5,000; Equipment = ₦20,000; Sales Revenue = ₦15,000; Cash = ₦10,000; Salaries Expense = ₦8,000; Office Supplies = ₦5,000; Equipment = ₦20,000; Sales Revenue = ₦15,000
Correct Answer
A
Correct Option:
Office Supplies Expense = ₦5,000; Equipment = ₦20,000; Sales Revenue = ₦15,000; Cash = ₦10,000; Salaries Expense = ₦8,000

About This Question

This is Post Utme Christopher University 2024 Accounting Question 5. It is one of the objective questions from the 2024 Post Utme Christopher University Accounting examination.

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