Post Utme Noun 2023 Accounting Question 14

Practice objective / multiple choice question 14 from the 2023 Post Utme Noun Accounting examination.

Post Utme Noun 2023 Accounting Objective / Multiple Choice

Question 14 POST_UTME_NOUN • 2023 • ACCOUNTING • objective

A company's balance sheet shows the following balances: ₦100,000 debit to Assets and ₦150,000 credit to Assets. What is the correct journal entry to rectify this error?

A. ₦50,000 debit to Assets and ₦50,000 credit to Equity

Correct Answer B. ₦50,000 debit to Equity and ₦50,000 credit to Assets

C. ₦50,000 debit to Assets and ₦50,000 credit to Liabilities

D. ₦50,000 debit to Liabilities and ₦50,000 credit to Assets

Correct Answer

Correct Option:

₦50,000 debit to Equity and ₦50,000 credit to Assets

This is Post Utme Noun 2023 Accounting Question 14. It is one of the objective questions from the 2023 Post Utme Noun Accounting examination.

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