Post Utme Covenant University 2018 Accounting Question 10

Practice objective / multiple choice question 10 from the 2018 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2018 Accounting Objective / Multiple Choice
Question 10 POST_UTME_COVENANT_UNIVERSITY • 2018 • ACCOUNTING • objective

The following journal entry was posted to the ledger of a company. Prepare the ledger accounts for the assets and liabilities.

Answer Options

Correct Answer A. Assets: Cash ₦ 100,000, Prepaid Rent ₦ 50,000, Office Equipment ₦ 200,000. Liabilities: Accrued Expenses ₦ 30,000.
B. Assets: Cash ₦ 100,000, Prepaid Rent ₦ 50,000, Office Equipment ₦ 200,000. Liabilities: Accrued Expenses ₦ 20,000.
C. Assets: Cash ₦ 100,000, Prepaid Rent ₦ 50,000, Office Equipment ₦ 200,000. Liabilities: Accrued Expenses ₦ 40,000.
D. Assets: Cash ₦ 100,000, Prepaid Rent ₦ 50,000, Office Equipment ₦ 200,000. Liabilities: Accrued Expenses ₦ 50,000.
Correct Answer
A
Correct Option:
Assets: Cash ₦ 100,000, Prepaid Rent ₦ 50,000, Office Equipment ₦ 200,000. Liabilities: Accrued Expenses ₦ 30,000.

About This Question

This is Post Utme Covenant University 2018 Accounting Question 10. It is one of the objective questions from the 2018 Post Utme Covenant University Accounting examination.

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