Post Utme Lautech 2020 Accounting Question 32

Practice objective / multiple choice question 32 from the 2020 Post Utme Lautech Accounting examination.

Post Utme Lautech 2020 Accounting Objective / Multiple Choice
Question 32 POST_UTME_LAUTECH • 2020 • ACCOUNTING • objective

A company's trial balance showed an error of ₦1,000 in the debit side of the purchases account. The correct amount of purchases was ₦200,000. Prepare the necessary journal entry to rectify the error.

Answer Options

A. ₦1,000 debit to purchases and ₦1,000 credit to purchases return inwards
B. ₦1,000 debit to purchases return inwards and ₦1,000 credit to purchases
Correct Answer C. ₦1,000 debit to purchases and ₦1,000 credit to purchases return inwards
D. ₦1,000 debit to purchases return inwards and ₦1,000 credit to purchases
Correct Answer
C
Correct Option:
₦1,000 debit to purchases and ₦1,000 credit to purchases return inwards

About This Question

This is Post Utme Lautech 2020 Accounting Question 32. It is one of the objective questions from the 2020 Post Utme Lautech Accounting examination.

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