Post Utme Osustech 2017 Accounting Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Osustech Accounting examination.

Post Utme Osustech 2017 Accounting Objective / Multiple Choice
Question 1 POST_UTME_OSUSTECH • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent Received' account. Prepare the necessary journal entry to close this account.

Answer Options

Correct Answer A. Debit Rent Received ₦15,000, Credit Rent Earned ₦15,000
B. Debit Rent Earned ₦15,000, Credit Rent Received ₦15,000
C. Debit Rent Received ₦15,000, Credit Profit ₦15,000
D. Debit Profit ₦15,000, Credit Rent Received ₦15,000
Correct Answer
A
Correct Option:
Debit Rent Received ₦15,000, Credit Rent Earned ₦15,000

About This Question

This is Post Utme Osustech 2017 Accounting Question 1. It is one of the objective questions from the 2017 Post Utme Osustech Accounting examination.

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