Post Utme Delsu 2023 Accounting Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Delsu Accounting examination.

Post Utme Delsu 2023 Accounting Objective / Multiple Choice
Question 12 POST_UTME_DELSU • 2023 • ACCOUNTING • objective

A company's trial balance showed an error of ₦10,000 due to an incorrect posting of a transaction. The error was discovered after preparing the balance sheet. What is the correct journal entry to rectify the error?

Answer Options

A. Debit Cash ₦10,000, Credit Profit and Loss Account ₦10,000
Correct Answer B. Debit Profit and Loss Account ₦10,000, Credit Cash ₦10,000
C. Debit Profit and Loss Account ₦10,000, Credit Capital Account ₦10,000
D. Debit Capital Account ₦10,000, Credit Profit and Loss Account ₦10,000
Correct Answer
B
Correct Option:
Debit Profit and Loss Account ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Delsu 2023 Accounting Question 12. It is one of the objective questions from the 2023 Post Utme Delsu Accounting examination.

View More Post Utme Delsu 2023 Accounting Questions More Post Utme Delsu Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support