Post Utme Elizade University 2020 Accounting Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2020 Accounting Objective / Multiple Choice
Question 26 POST_UTME_ELIZADE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦5,000 in the 'Rent Received' account. Prepare the journal entry to correct this error.

Answer Options

A. Debit Rent Received ₦5,000, Credit Rent Received ₦5,000
B. Debit Rent Received ₦5,000, Credit Rent Paid ₦5,000
Correct Answer C. Debit Rent Paid ₦5,000, Credit Rent Received ₦5,000
D. Debit Rent Received ₦5,000, Credit Rent Received ₦5,000
Correct Answer
C
Correct Option:
Debit Rent Paid ₦5,000, Credit Rent Received ₦5,000

About This Question

This is Post Utme Elizade University 2020 Accounting Question 26. It is one of the objective questions from the 2020 Post Utme Elizade University Accounting examination.

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