Post Utme Noun 2019 Accounting Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Noun Accounting examination.

Post Utme Noun 2019 Accounting Objective / Multiple Choice
Question 20 POST_UTME_NOUN • 2019 • ACCOUNTING • objective

A company's trial balance as at 31st December, 2022, showed a credit 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 credit of ₦50,000 to the Suspense Account and a debit of ₦50,000 to the Bank Account. Prepare the necessary journal entry to correct the error.

Answer Options

Correct Answer A. Debit Bank Account ₦50,000, Credit Suspense Account ₦50,000
B. Debit Suspense Account ₦50,000, Credit Bank 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 Bank Account ₦50,000, Credit Suspense Account ₦50,000

About This Question

This is Post Utme Noun 2019 Accounting Question 20. It is one of the objective questions from the 2019 Post Utme Noun Accounting examination.

View More Post Utme Noun 2019 Accounting Questions More Post Utme Noun Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support