Post Utme Noun 2019 Accounting Question 17

Practice objective / multiple choice question 17 from the 2019 Post Utme Noun Accounting examination.

Post Utme Noun 2019 Accounting Objective / Multiple Choice
Question 17 POST_UTME_NOUN • 2019 • ACCOUNTING • objective

A company's trial balance as at 31st December, 2022, showed a debit balance of ₦50,000 in the Suspense Account. The company's accountant discovered that this was due to an error in the posting of a journal entry. The correct entry was a debit of ₦50,000 to the Suspense Account and a credit of ₦50,000 to the Bank Account. Prepare the necessary journal entry to correct the error.

Answer Options

Correct Answer A. Debit Suspense Account ₦50,000, Credit Bank Account ₦50,000
B. Debit Bank Account ₦50,000, Credit Suspense Account ₦50,000
C. Debit Suspense Account ₦50,000, Credit Cash Account ₦50,000
D. Debit Cash Account ₦50,000, Credit Suspense Account ₦50,000
Correct Answer
A
Correct Option:
Debit Suspense Account ₦50,000, Credit Bank Account ₦50,000

About This Question

This is Post Utme Noun 2019 Accounting Question 17. It is one of the objective questions from the 2019 Post Utme Noun Accounting examination.

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