Post Utme Greenfield University 2018 Accounting Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2018 Accounting Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received'. However, the company's accounting records show that the rent received was ₦20,000. What is the correct journal entry to record the correction?

Answer Options

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

About This Question

This is Post Utme Greenfield University 2018 Accounting Question 1. It is one of the objective questions from the 2018 Post Utme Greenfield University Accounting examination.

View More Post Utme Greenfield University 2018 Accounting Questions More Post Utme Greenfield University 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