Post Utme Delsu 2024 Accounting Question 39

Practice objective / multiple choice question 39 from the 2024 Post Utme Delsu Accounting examination.

Post Utme Delsu 2024 Accounting Objective / Multiple Choice
Question 39 POST_UTME_DELSU • 2024 • ACCOUNTING • objective

A company's trial balance shows a credit balance of ₦20,000 in the 'Dividends' account. However, the company's accounting records show that it has paid ₦10,000 in dividends. What is the correct journal entry to record the error?

Answer Options

A. ₦10,000 debit to 'Dividends' and ₦10,000 credit to 'Cash'
Correct Answer B. ₦10,000 credit to 'Dividends' and ₦10,000 debit to 'Cash'
C. ₦20,000 debit to 'Dividends' and ₦20,000 credit to 'Cash'
D. ₦30,000 credit to 'Dividends' and ₦30,000 debit to 'Cash'
Correct Answer
B
Correct Option:
₦10,000 credit to 'Dividends' and ₦10,000 debit to 'Cash'

About This Question

This is Post Utme Delsu 2024 Accounting Question 39. It is one of the objective questions from the 2024 Post Utme Delsu Accounting examination.

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