Post Utme Crawford University 2019 Accounting Question 31

Practice objective / multiple choice question 31 from the 2019 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2019 Accounting Objective / Multiple Choice
Question 31 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's bank reconciliation statement shows a difference of ₦10,000 between the company's cash book balance and the bank statement balance. The company's accounting records show that it deposited ₦20,000 into the bank during the month. Prepare the necessary journal entry to correct the error.

Answer Options

Correct Answer A. Debit Bank Overdraft ₦10,000, Credit Cash ₦10,000
B. Debit Cash ₦10,000, Credit Bank Overdraft ₦10,000
C. Debit Bank Overdraft ₦10,000, Credit Cash ₦20,000
D. Debit Cash ₦20,000, Credit Bank Overdraft ₦10,000
Correct Answer
A
Correct Option:
Debit Bank Overdraft ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Crawford University 2019 Accounting Question 31. It is one of the objective questions from the 2019 Post Utme Crawford University Accounting examination.

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