Post Utme Greenfield University 2019 Accounting Question 39

Practice objective / multiple choice question 39 from the 2019 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2019 Accounting Objective / Multiple Choice
Question 39 POST_UTME_GREENFIELD_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's manufacturing account shows a cost of goods sold of ₦200,000. However, the company's balance sheet shows a work-in-progress of ₦30,000. What is the correct adjustment to be made to the manufacturing account?

Answer Options

A. Debit Work-in-Progress ₦30,000, Credit Cost of Goods Sold ₦30,000
Correct Answer B. Debit Cost of Goods Sold ₦30,000, Credit Work-in-Progress ₦30,000
C. Debit Work-in-Progress ₦200,000, Credit Cost of Goods Sold ₦200,000
D. Debit Cost of Goods Sold ₦200,000, Credit Work-in-Progress ₦200,000
Correct Answer
B
Correct Option:
Debit Cost of Goods Sold ₦30,000, Credit Work-in-Progress ₦30,000

About This Question

This is Post Utme Greenfield University 2019 Accounting Question 39. It is one of the objective questions from the 2019 Post Utme Greenfield University Accounting examination.

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