Post Utme Osustech 2018 Accounting Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Osustech Accounting examination.

Post Utme Osustech 2018 Accounting Objective / Multiple Choice
Question 11 POST_UTME_OSUSTECH • 2018 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions occurred during the year: 1. Purchased office equipment for ₦50,000. 2. Sold goods for ₦200,000. 3. Paid salaries of ₦100,000. 4. Purchased raw materials for ₦150,000. 5. Collected cash from customers for ₦250,000. Determine the correct order of journal entries for these transactions.

Answer Options

A. 1. Purchased office equipment for ₦50,000. 2. Paid salaries of ₦100,000. 3. Purchased raw materials for ₦150,000. 4. Sold goods for ₦200,000. 5. Collected cash from customers for ₦250,000.
B. 1. Purchased office equipment for ₦50,000. 2. Purchased raw materials for ₦150,000. 3. Paid salaries of ₦100,000. 4. Sold goods for ₦200,000. 5. Collected cash from customers for ₦250,000.
C. 1. Purchased office equipment for ₦50,000. 2. Purchased raw materials for ₦150,000. 3. Sold goods for ₦200,000. 4. Paid salaries of ₦100,000. 5. Collected cash from customers for ₦250,000.
Correct Answer D. 1. Purchased office equipment for ₦50,000. 2. Sold goods for ₦200,000. 3. Purchased raw materials for ₦150,000. 4. Paid salaries of ₦100,000. 5. Collected cash from customers for ₦250,000.
Correct Answer
D
Correct Option:
1. Purchased office equipment for ₦50,000. 2. Sold goods for ₦200,000. 3. Purchased raw materials for ₦150,000. 4. Paid salaries of ₦100,000. 5. Collected cash from customers for ₦250,000.

About This Question

This is Post Utme Osustech 2018 Accounting Question 11. It is one of the objective questions from the 2018 Post Utme Osustech Accounting examination.

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