Post Utme Ksu 2024 Accounting Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Ksu Accounting examination.

Post Utme Ksu 2024 Accounting Objective / Multiple Choice
Question 36 POST_UTME_KSU • 2024 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a debit balance of ₦120,000. The company's trial balance shows a credit balance of ₦150,000 for the 'Accrued Expenses' account. What is the correct journal entry to record the adjustment for the accrued expenses?

Answer Options

A. Debit Accrued Expenses ₦30,000, Credit Cash ₦30,000
B. Debit Accrued Expenses ₦60,000, Credit Cash ₦60,000
C. Debit Accrued Expenses ₦90,000, Credit Cash ₦90,000
Correct Answer D. Debit Accrued Expenses ₦120,000, Credit Cash ₦120,000
Correct Answer
D
Correct Option:
Debit Accrued Expenses ₦120,000, Credit Cash ₦120,000

About This Question

This is Post Utme Ksu 2024 Accounting Question 36. It is one of the objective questions from the 2024 Post Utme Ksu Accounting examination.

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