Post Utme Lautech 2018 Accounting Question 38

Practice objective / multiple choice question 38 from the 2018 Post Utme Lautech Accounting examination.

Post Utme Lautech 2018 Accounting Objective / Multiple Choice
Question 38 POST_UTME_LAUTECH • 2018 • ACCOUNTING • objective

A company's bank reconciliation statement shows a difference of ₦2,000 between the company's cash book balance and the bank statement balance. The difference is due to an error in the cash book. What is the correct journal entry to rectify the error?

Answer Options

A. Debit Bank ₦2,000, Credit Cash ₦2,000
Correct Answer B. Debit Cash ₦2,000, Credit Bank ₦2,000
C. Debit Bank ₦2,000, Credit Profit and Loss Account ₦2,000
D. Debit Profit and Loss Account ₦2,000, Credit Bank ₦2,000
Correct Answer
B
Correct Option:
Debit Cash ₦2,000, Credit Bank ₦2,000

About This Question

This is Post Utme Lautech 2018 Accounting Question 38. It is one of the objective questions from the 2018 Post Utme Lautech Accounting examination.

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