Post Utme Delsu 2024 Accounting Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Delsu Accounting examination.

Post Utme Delsu 2024 Accounting Objective / Multiple Choice
Question 36 POST_UTME_DELSU • 2024 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent and Rates' account. However, the company's accounting records show that it has paid ₦20,000 in rent and rates. What is the correct journal entry to record the error?

Answer Options

Correct Answer A. ₦5,000 debit to 'Rent and Rates' and ₦5,000 credit to 'Cash'
B. ₦5,000 credit to 'Rent and Rates' and ₦5,000 debit to 'Cash'
C. ₦20,000 debit to 'Rent and Rates' and ₦20,000 credit to 'Cash'
D. ₦15,000 credit to 'Rent and Rates' and ₦15,000 debit to 'Cash'
Correct Answer
A
Correct Option:
₦5,000 debit to 'Rent and Rates' and ₦5,000 credit to 'Cash'

About This Question

This is Post Utme Delsu 2024 Accounting Question 36. It is one of the objective questions from the 2024 Post Utme Delsu Accounting examination.

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