Post Utme Igbinedion University 2022 Accounting Question 27

Practice objective / multiple choice question 27 from the 2022 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2022 Accounting Objective / Multiple Choice
Question 27 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • ACCOUNTING • objective

A government agency has the following transactions: Purchase of office equipment ₦50,000, Salaries ₦200,000, Rent ₦100,000. What is the correct format for the journal entry?

Answer Options

A. Debit Office Equipment ₦50,000, Debit Salaries ₦200,000, Debit Rent ₦100,000, Credit Cash ₦350,000
B. Debit Cash ₦350,000, Credit Office Equipment ₦50,000, Credit Salaries ₦200,000, Credit Rent ₦100,000
Correct Answer C. Debit Office Equipment ₦50,000, Debit Salaries ₦200,000, Debit Rent ₦100,000, Credit Cash ₦350,000
D. Debit Salaries ₦200,000, Debit Rent ₦100,000, Debit Office Equipment ₦50,000, Credit Cash ₦350,000
Correct Answer
C
Correct Option:
Debit Office Equipment ₦50,000, Debit Salaries ₦200,000, Debit Rent ₦100,000, Credit Cash ₦350,000

About This Question

This is Post Utme Igbinedion University 2022 Accounting Question 27. It is one of the objective questions from the 2022 Post Utme Igbinedion University Accounting examination.

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