Post Utme Greenfield University 2023 Accounting Question 6

Practice objective / multiple choice question 6 from the 2023 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2023 Accounting Objective / Multiple Choice
Question 6 POST_UTME_GREENFIELD_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦12,000 in the 'Rent Expense' account. However, the company's accounting records indicate that the rent expense for the year was ₦15,000. What is the correct journal entry to record the adjustment?

Answer Options

A. Debit Rent Expense ₦3,000, Credit Cash ₦3,000
Correct Answer B. Debit Rent Expense ₦3,000, Credit Rent Payable ₦3,000
C. Debit Rent Expense ₦3,000, Credit Rent Expense ₦3,000
D. Debit Rent Expense ₦3,000, Credit Cash ₦15,000
Correct Answer
B
Correct Option:
Debit Rent Expense ₦3,000, Credit Rent Payable ₦3,000

About This Question

This is Post Utme Greenfield University 2023 Accounting Question 6. It is one of the objective questions from the 2023 Post Utme Greenfield University Accounting examination.

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