Post Utme Nile University 2024 Accounting Question 27

Practice objective / multiple choice question 27 from the 2024 Post Utme Nile University Accounting examination.

Post Utme Nile University 2024 Accounting Objective / Multiple Choice
Question 27 POST_UTME_NILE_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trial balance showed an error of ₦10,000 in the debit side of the purchases account. The correct amount of purchases was ₦150,000. Prepare the necessary journal entry to correct the error.

Answer Options

Correct Answer A. Debit Purchases ₦160,000, Credit Purchases ₦150,000
B. Debit Purchases ₦160,000, Credit Purchases ₦160,000
C. Debit Purchases ₦150,000, Credit Purchases ₦160,000
D. Debit Purchases ₦160,000, Credit Purchases ₦10,000
Correct Answer
A
Correct Option:
Debit Purchases ₦160,000, Credit Purchases ₦150,000

About This Question

This is Post Utme Nile University 2024 Accounting Question 27. It is one of the objective questions from the 2024 Post Utme Nile University Accounting examination.

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