Post Utme Pan Atlantic University 2017 Accounting Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2017 Accounting Objective / Multiple Choice
Question 31 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2017 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's accountant records the following transactions in the journal: Debit: Purchases 10,000, Salaries 8,000, Rent 2,000 Credit: Cash 20,000 What is the correct journal entry for the purchase of office equipment for 3,000?

Answer Options

Correct Answer A. Debit: Office Equipment 3,000, Credit: Cash 3,000
B. Debit: Office Equipment 3,000, Credit: Purchases 3,000
C. Debit: Purchases 3,000, Credit: Office Equipment 3,000
D. Debit: Office Equipment 3,000, Credit: Salaries 3,000
Correct Answer
A
Correct Option:
Debit: Office Equipment 3,000, Credit: Cash 3,000

About This Question

This is Post Utme Pan Atlantic University 2017 Accounting Question 31. It is one of the objective questions from the 2017 Post Utme Pan Atlantic University Accounting examination.

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