Post Utme Lasu 2023 Accounting Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Lasu Accounting examination.

Post Utme Lasu 2023 Accounting Objective / Multiple Choice
Question 11 POST_UTME_LASU • 2023 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Office Supplies' account. However, the company's accountant has confirmed that the correct balance should be a credit of ₦5,000. What is the correct journal entry to correct this error?

Answer Options

A. ₦15,000 debit to 'Office Supplies' and ₦5,000 credit to 'Office Supplies'
B. ₦20,000 debit to 'Office Supplies' and ₦15,000 credit to 'Office Supplies'
Correct Answer C. ₦5,000 debit to 'Office Supplies' and ₦15,000 credit to 'Office Supplies'
D. ₦10,000 debit to 'Office Supplies' and ₦5,000 credit to 'Office Supplies'
Correct Answer
C
Correct Option:
₦5,000 debit to 'Office Supplies' and ₦15,000 credit to 'Office Supplies'

About This Question

This is Post Utme Lasu 2023 Accounting Question 11. It is one of the objective questions from the 2023 Post Utme Lasu Accounting examination.

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