Post Utme Noun 2022 Accounting Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Noun Accounting examination.

Post Utme Noun 2022 Accounting Objective / Multiple Choice
Question 11 POST_UTME_NOUN • 2022 • ACCOUNTING • objective

A company uses the double-entry system to record its transactions. The company's trial balance shows a debit balance of ₦50,000 in the account 'Office Equipment' and a credit balance of ₦20,000 in the account 'Office Supplies'. What is the correct journal entry to record the transfer of ₦30,000 from Office Equipment to Office Supplies?

Answer Options

Correct Answer A. Debit Office Equipment ₦30,000, Credit Office Supplies ₦30,000
B. Debit Office Supplies ₦30,000, Credit Office Equipment ₦30,000
C. Debit Office Equipment ₦30,000, Credit Cash ₦30,000
D. Debit Office Supplies ₦30,000, Credit Cash ₦30,000
Correct Answer
A
Correct Option:
Debit Office Equipment ₦30,000, Credit Office Supplies ₦30,000

About This Question

This is Post Utme Noun 2022 Accounting Question 11. It is one of the objective questions from the 2022 Post Utme Noun Accounting examination.

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