Post Utme Elizade University 2020 Accounting Question 4

Practice objective / multiple choice question 4 from the 2020 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2020 Accounting Objective / Multiple Choice
Question 4 POST_UTME_ELIZADE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦100,000 in the account 'Salaries Expense' and a credit balance of ₦120,000 in the account 'Salaries Payable'. What is the correct journal entry to record the correction of this error?

Answer Options

A. ₦20,000 debit to Salaries Expense and ₦20,000 credit to Salaries Payable
Correct Answer B. ₦20,000 debit to Salaries Payable and ₦20,000 credit to Salaries Expense
C. ₦20,000 debit to Salaries Expense and ₦20,000 credit to Salaries Payable
D. ₦20,000 debit to Salaries Payable and ₦20,000 credit to Salaries Expense
Correct Answer
B
Correct Option:
₦20,000 debit to Salaries Payable and ₦20,000 credit to Salaries Expense

About This Question

This is Post Utme Elizade University 2020 Accounting Question 4. It is one of the objective questions from the 2020 Post Utme Elizade University Accounting examination.

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