Post Utme Madonna University 2017 Accounting Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Madonna University Accounting examination.

Post Utme Madonna University 2017 Accounting Objective / Multiple Choice
Question 6 POST_UTME_MADONNA_UNIVERSITY • 2017 • ACCOUNTING • objective

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

Answer Options

A. Debit Office Equipment ₦20,000, Credit Office Equipment ₦20,000
B. Debit Office Equipment ₦20,000, Credit Office Equipment ₦15,000
Correct Answer C. Debit Office Equipment ₦15,000, Credit Office Equipment ₦20,000
D. Debit Office Equipment ₦20,000, Credit Office Equipment ₦5,000
Correct Answer
C
Correct Option:
Debit Office Equipment ₦15,000, Credit Office Equipment ₦20,000

About This Question

This is Post Utme Madonna University 2017 Accounting Question 6. It is one of the objective questions from the 2017 Post Utme Madonna University Accounting examination.

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