Post Utme Osustech 2017 Accounting Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Osustech Accounting examination.

Post Utme Osustech 2017 Accounting Objective / Multiple Choice
Question 11 POST_UTME_OSUSTECH • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦10,000 in the account 'Rent Received'. However, the company's cash book shows a credit entry of ₦5,000 for rent received from a customer. What is the correct journal entry to correct the error?

Answer Options

A. Debit Rent Received ₦5,000, Credit Cash ₦5,000
B. Debit Rent Received ₦10,000, Credit Cash ₦10,000
Correct Answer C. Debit Rent Received ₦5,000, Credit Cash ₦5,000
D. Debit Rent Received ₦15,000, Credit Cash ₦15,000
Correct Answer
C
Correct Option:
Debit Rent Received ₦5,000, Credit Cash ₦5,000

About This Question

This is Post Utme Osustech 2017 Accounting Question 11. It is one of the objective questions from the 2017 Post Utme Osustech Accounting examination.

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