Post Utme Eksu 2025 Accounting Question 21

Practice objective / multiple choice question 21 from the 2025 Post Utme Eksu Accounting examination.

Post Utme Eksu 2025 Accounting Objective / Multiple Choice
Question 21 POST_UTME_EKSU • 2025 • 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 for the year. What is the correct journal entry to correct the discrepancy?

Answer Options

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

About This Question

This is Post Utme Eksu 2025 Accounting Question 21. It is one of the objective questions from the 2025 Post Utme Eksu Accounting examination.

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