Post Utme Ksu 2022 Accounting Question 5

Practice objective / multiple choice question 5 from the 2022 Post Utme Ksu Accounting examination.

Post Utme Ksu 2022 Accounting Objective / Multiple Choice
Question 5 POST_UTME_KSU • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦50,000 on credit; sold goods for ₦75,000 for cash; and purchased equipment for ₦20,000 on credit. Prepare the ledger accounts for these transactions.

Answer Options

Correct Answer A. Purchases Ledger: Debit ₦50,000, Credit Accounts Payable ₦50,000
B. Sales Ledger: Debit ₦75,000, Credit Cash ₦75,000
C. Equipment Ledger: Debit ₦20,000, Credit Accounts Payable ₦20,000
D. Purchases Ledger: Debit ₦75,000, Credit Accounts Payable ₦75,000
Correct Answer
A
Correct Option:
Purchases Ledger: Debit ₦50,000, Credit Accounts Payable ₦50,000

About This Question

This is Post Utme Ksu 2022 Accounting Question 5. It is one of the objective questions from the 2022 Post Utme Ksu Accounting examination.

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