Post Utme Pan Atlantic University 2022 Accounting Question 32

Practice objective / multiple choice question 32 from the 2022 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2022 Accounting Objective / Multiple Choice
Question 32 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦10,000 in the account 'Wages' and a credit balance of ₦5,000 in the account 'Wages Payable'. What is the correct treatment of these accounts in the preparation of the company's financial statements?

Answer Options

A. Debit the 'Wages Payable' account and credit the 'Wages' account.
B. Credit the 'Wages Payable' account and debit the 'Wages' account.
Correct Answer C. Debit the 'Wages' account and credit the 'Wages Payable' account.
D. Credit the 'Wages' account and debit the 'Wages Payable' account.
Correct Answer
C
Correct Option:
Debit the 'Wages' account and credit the 'Wages Payable' account.

About This Question

This is Post Utme Pan Atlantic University 2022 Accounting Question 32. It is one of the objective questions from the 2022 Post Utme Pan Atlantic University Accounting examination.

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