Post Utme Coal City University 2020 Accounting Question 39

Practice objective / multiple choice question 39 from the 2020 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2020 Accounting Objective / Multiple Choice
Question 39 POST_UTME_COAL_CITY_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received' and a credit balance of ₦20,000 in the account 'Rent Paid'. What is the correct journal entry to correct this error?

Answer Options

A. ₦5,000 debit to Rent Received and ₦5,000 credit to Rent Paid
B. ₦10,000 debit to Rent Received and ₦10,000 credit to Rent Paid
Correct Answer C. ₦15,000 debit to Rent Received and ₦20,000 credit to Rent Paid
D. ₦20,000 debit to Rent Received and ₦15,000 credit to Rent Paid
Correct Answer
C
Correct Option:
₦15,000 debit to Rent Received and ₦20,000 credit to Rent Paid

About This Question

This is Post Utme Coal City University 2020 Accounting Question 39. It is one of the objective questions from the 2020 Post Utme Coal City University Accounting examination.

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