Post Utme Ksu 2020 Accounting Question 4

Practice objective / multiple choice question 4 from the 2020 Post Utme Ksu Accounting examination.

Post Utme Ksu 2020 Accounting Objective / Multiple Choice
Question 4 POST_UTME_KSU • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Salaries and Wages' and a credit balance of ₦10,000 in the account 'Salaries and Wages Payable'. What is the correct journal entry to record the correction of this error?

Answer Options

A. ₦5,000 debit to Salaries and Wages Payable and ₦5,000 credit to Salaries and Wages
Correct Answer B. ₦5,000 debit to Salaries and Wages and ₦5,000 credit to Salaries and Wages Payable
C. ₦15,000 debit to Salaries and Wages Payable and ₦10,000 credit to Salaries and Wages
D. ₦15,000 debit to Salaries and Wages and ₦10,000 credit to Salaries and Wages Payable
Correct Answer
B
Correct Option:
₦5,000 debit to Salaries and Wages and ₦5,000 credit to Salaries and Wages Payable

About This Question

This is Post Utme Ksu 2020 Accounting Question 4. It is one of the objective questions from the 2020 Post Utme Ksu Accounting examination.

View More Post Utme Ksu 2020 Accounting Questions More Post Utme Ksu Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support