Post Utme Lasu 2021 Accounting Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Lasu Accounting examination.

Post Utme Lasu 2021 Accounting Objective / Multiple Choice
Question 21 POST_UTME_LASU • 2021 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions are recorded in the journal: Debit: Raw Materials £10,000, Work-in-Progress £20,000, Factory Overheads £5,000 Credit: Purchases £35,000. What is the correct entry in the ledger accounts?

Answer Options

A. Raw Materials £10,000, Work-in-Progress £20,000, Factory Overheads £5,000
B. Raw Materials £20,000, Work-in-Progress £10,000, Factory Overheads £5,000
Correct Answer C. Raw Materials £10,000, Work-in-Progress £20,000, Factory Overheads £5,000
D. Raw Materials £20,000, Work-in-Progress £10,000, Factory Overheads £5,000
Correct Answer
C
Correct Option:
Raw Materials £10,000, Work-in-Progress £20,000, Factory Overheads £5,000

About This Question

This is Post Utme Lasu 2021 Accounting Question 21. It is one of the objective questions from the 2021 Post Utme Lasu Accounting examination.

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