Post Utme Oau 2025 Accounting Question 19

Practice objective / multiple choice question 19 from the 2025 Post Utme Oau Accounting examination.

Post Utme Oau 2025 Accounting Objective / Multiple Choice
Question 19 POST_UTME_OAU • 2025 • ACCOUNTING • objective

A company has the following transactions: Purchased land for ₦50,000, Sold land for ₦60,000, Purchased equipment for ₦20,000, Sold equipment for ₦18,000, and Paid rent for ₦8,000. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Land ₦50,000, Credit Cash ₦50,000
B. Debit Land ₦60,000, Credit Cash ₦60,000
C. Debit Equipment ₦20,000, Credit Cash ₦20,000
D. Debit Rent Expense ₦8,000, Credit Cash ₦8,000
Correct Answer
A
Correct Option:
Debit Land ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Oau 2025 Accounting Question 19. It is one of the objective questions from the 2025 Post Utme Oau Accounting examination.

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