Post Utme Pan Atlantic University 2025 Accounting Question 5

Practice objective / multiple choice question 5 from the 2025 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2025 Accounting Objective / Multiple Choice
Question 5 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2025 • ACCOUNTING • objective

A company has the following transactions: Purchased raw materials for ₦20,000, used ₦15,000 of the raw materials in production, and sold goods for ₦30,000. Prepare the journal entries for these transactions.

Answer Options

A. Debit Raw Materials ₦20,000, Credit Cash ₦20,000
Correct Answer B. Debit Raw Materials ₦15,000, Credit Work in Progress ₦15,000
C. Debit Cash ₦30,000, Credit Sales ₦30,000
D. Debit Work in Progress ₦15,000, Credit Raw Materials ₦15,000
Correct Answer
B
Correct Option:
Debit Raw Materials ₦15,000, Credit Work in Progress ₦15,000

About This Question

This is Post Utme Pan Atlantic University 2025 Accounting Question 5. It is one of the objective questions from the 2025 Post Utme Pan Atlantic University Accounting examination.

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