Post Utme Igbinedion University 2019 Accounting Question 35

Practice objective / multiple choice question 35 from the 2019 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2019 Accounting Objective / Multiple Choice
Question 35 POST_UTME_IGBINEDION_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦50,000, sold goods for ₦70,000, and returned goods worth ₦10,000 to the supplier. Prepare the cash book for the above transactions.

Answer Options

Correct Answer A. Cash Book: Debit ₦50,000, Credit ₦60,000; Cash Book: Debit ₦70,000, Credit ₦80,000; Cash Book: Debit ₦10,000, Credit ₦20,000
B. Cash Book: Debit ₦60,000, Credit ₦70,000; Cash Book: Debit ₦80,000, Credit ₦90,000; Cash Book: Debit ₦20,000, Credit ₦30,000
C. Cash Book: Debit ₦40,000, Credit ₦50,000; Cash Book: Debit ₦60,000, Credit ₦70,000; Cash Book: Debit ₦10,000, Credit ₦20,000
D. Cash Book: Debit ₦60,000, Credit ₦70,000; Cash Book: Debit ₦80,000, Credit ₦90,000; Cash Book: Debit ₦20,000, Credit ₦30,000
Correct Answer
A
Correct Option:
Cash Book: Debit ₦50,000, Credit ₦60,000; Cash Book: Debit ₦70,000, Credit ₦80,000; Cash Book: Debit ₦10,000, Credit ₦20,000

About This Question

This is Post Utme Igbinedion University 2019 Accounting Question 35. It is one of the objective questions from the 2019 Post Utme Igbinedion University Accounting examination.

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