Post Utme Nile University 2021 Accounting Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Nile University Accounting examination.

Post Utme Nile University 2021 Accounting Objective / Multiple Choice
Question 31 POST_UTME_NILE_UNIVERSITY • 2021 • 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 record the correction?

Answer Options

Correct Answer A. ₦20,000 debit to Office Equipment, ₦20,000 credit to Office Equipment
B. ₦20,000 debit to Office Equipment, ₦20,000 credit to Office Supplies
C. ₦20,000 credit to Office Equipment, ₦20,000 debit to Office Supplies
D. ₦20,000 credit to Office Equipment, ₦20,000 credit to Office Supplies
Correct Answer
A
Correct Option:
₦20,000 debit to Office Equipment, ₦20,000 credit to Office Equipment

About This Question

This is Post Utme Nile University 2021 Accounting Question 31. It is one of the objective questions from the 2021 Post Utme Nile University Accounting examination.

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