Post Utme Coal City University 2021 Accounting Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2021 Accounting Objective / Multiple Choice
Question 11 POST_UTME_COAL_CITY_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses the single entry system of accounting. The following transactions were recorded in the year ended December 31, 2022: Purchase of office equipment for ₦120,000, Purchase of office furniture for ₦80,000, Sale of goods for ₦500,000, and Payment of salaries for ₦200,000. Prepare the single entry ledger for the year ended December 31, 2022.

Answer Options

Correct Answer A. Office Equipment A/c: Dr. ₦120,000, Office Furniture A/c: Dr. ₦80,000, Sales A/c: Cr. ₦500,000, Salaries A/c: Cr. ₦200,000
B. Office Equipment A/c: Dr. ₦80,000, Office Furniture A/c: Dr. ₦120,000, Sales A/c: Cr. ₦500,000, Salaries A/c: Cr. ₦200,000
C. Office Equipment A/c: Dr. ₦120,000, Office Furniture A/c: Dr. ₦80,000, Sales A/c: Cr. ₦200,000, Salaries A/c: Cr. ₦500,000
D. Office Equipment A/c: Dr. ₦80,000, Office Furniture A/c: Dr. ₦120,000, Sales A/c: Cr. ₦200,000, Salaries A/c: Cr. ₦500,000
Correct Answer
A
Correct Option:
Office Equipment A/c: Dr. ₦120,000, Office Furniture A/c: Dr. ₦80,000, Sales A/c: Cr. ₦500,000, Salaries A/c: Cr. ₦200,000

About This Question

This is Post Utme Coal City University 2021 Accounting Question 11. It is one of the objective questions from the 2021 Post Utme Coal City University Accounting examination.

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