Post Utme Oau 2018 Accounting Question 13

Practice objective / multiple choice question 13 from the 2018 Post Utme Oau Accounting examination.

Post Utme Oau 2018 Accounting Objective / Multiple Choice
Question 13 POST_UTME_OAU • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the account 'Rent Expense' and a credit balance of ₦60,000 in the account 'Rent Payable'. What is the correct journal entry to record the payment of ₦50,000 to the landlord?

Answer Options

A. Debit Rent Expense ₦50,000, Credit Cash ₦50,000
Correct Answer B. Debit Rent Payable ₦50,000, Credit Cash ₦50,000
C. Debit Rent Expense ₦50,000, Credit Rent Payable ₦50,000
D. Debit Rent Expense ₦50,000, Credit Cash ₦60,000
Correct Answer
B
Correct Option:
Debit Rent Payable ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Oau 2018 Accounting Question 13. It is one of the objective questions from the 2018 Post Utme Oau Accounting examination.

View More Post Utme Oau 2018 Accounting Questions More Post Utme Oau 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