Post Utme Futa 2019 Accounting Question 6

Practice objective / multiple choice question 6 from the 2019 Post Utme Futa Accounting examination.

Post Utme Futa 2019 Accounting Objective / Multiple Choice
Question 6 POST_UTME_FUTA • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent Received' account. Prepare the necessary journal entry to correct this error.

Answer Options

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

About This Question

This is Post Utme Futa 2019 Accounting Question 6. It is one of the objective questions from the 2019 Post Utme Futa Accounting examination.

View More Post Utme Futa 2019 Accounting Questions More Post Utme Futa Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support