Post Utme Joseph Ayo Babalola University 2024 Accounting Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2024 Accounting Objective / Multiple Choice
Question 24 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has the following balance sheet: Assets 100,000, Liabilities 80,000, Equity 20,000. What is the correct journal entry to correct the error?

Answer Options

Correct Answer A. Debit 20,000, Credit 20,000
B. Debit 20,000, Credit 20,000
C. Debit 20,000, Credit 20,000
D. Debit 20,000, Credit 20,000
Correct Answer
A
Correct Option:
Debit 20,000, Credit 20,000

About This Question

This is Post Utme Joseph Ayo Babalola University 2024 Accounting Question 24. It is one of the objective questions from the 2024 Post Utme Joseph Ayo Babalola University Accounting examination.

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