Post Utme Crawford University 2019 Accounting Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2019 Accounting Objective / Multiple Choice
Question 34 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent' account. The company's accounting records show that it paid ₦20,000 in rent for the year. Prepare the necessary journal entry to correct the error.

Answer Options

A. Debit Rent Expense ₦15,000, Credit Rent Expense ₦20,000
Correct Answer B. Debit Rent Expense ₦20,000, Credit Rent Expense ₦15,000
C. Debit Rent Expense ₦15,000, Credit Rent Expense ₦15,000
D. Debit Rent Expense ₦20,000, Credit Rent Expense ₦15,000
Correct Answer
B
Correct Option:
Debit Rent Expense ₦20,000, Credit Rent Expense ₦15,000

About This Question

This is Post Utme Crawford University 2019 Accounting Question 34. It is one of the objective questions from the 2019 Post Utme Crawford University Accounting examination.

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