Post Utme Delsu 2017 Accounting Question 39

Practice objective / multiple choice question 39 from the 2017 Post Utme Delsu Accounting examination.

Post Utme Delsu 2017 Accounting Objective / Multiple Choice
Question 39 POST_UTME_DELSU • 2017 • ACCOUNTING • objective

A company's trial balance shows an error of £ 1,000 due to an incorrect posting of a credit entry. The correct amount of the credit entry is £ 8,000. Prepare a correction entry to rectify the error.

Answer Options

A. Credit Profit and Loss £ 1,000, Debit Cash £ 1,000
Correct Answer B. Credit Profit and Loss £ 8,000, Debit Cash £ 1,000
C. Credit Cash £ 8,000, Debit Profit and Loss £ 1,000
D. Debit Profit and Loss £ 1,000, Credit Cash £ 1,000
Correct Answer
B
Correct Option:
Credit Profit and Loss £ 8,000, Debit Cash £ 1,000

About This Question

This is Post Utme Delsu 2017 Accounting Question 39. It is one of the objective questions from the 2017 Post Utme Delsu Accounting examination.

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