Question 14
POST_UTME_OSUSTECH
•
2018
•
ACCOUNTING
•
objective
A company's financial statements for the year ended December 31, 2022, are as follows:
Trading Account:
₦1,000,000
₦500,000
₦200,000
₦300,000
₦400,000
₦600,000
₦800,000
₦700,000
₦900,000
₦1,200,000
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 14.
It is one of the
objective
questions from the
2018
Post Utme Osustech
Accounting
examination.