Post Utme Osustech 2017 Accounting Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Osustech Accounting examination.

Post Utme Osustech 2017 Accounting Objective / Multiple Choice
Question 5 POST_UTME_OSUSTECH • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦10,000 in the 'Rent Paid' account. Prepare the necessary journal entry to close this account.

Answer Options

Correct Answer A. Debit Rent Paid ₦10,000, Credit Rent Expense ₦10,000
B. Debit Rent Expense ₦10,000, Credit Rent Paid ₦10,000
C. Debit Rent Paid ₦10,000, Credit Profit ₦10,000
D. Debit Profit ₦10,000, Credit Rent Paid ₦10,000
Correct Answer
A
Correct Option:
Debit Rent Paid ₦10,000, Credit Rent Expense ₦10,000

About This Question

This is Post Utme Osustech 2017 Accounting Question 5. It is one of the objective questions from the 2017 Post Utme Osustech Accounting examination.

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