Post Utme Redeemers University 2017 Accounting Question 30

Practice objective / multiple choice question 30 from the 2017 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2017 Accounting Objective / Multiple Choice
Question 30 POST_UTME_REDEEMERS_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's self-balancing ledger shows a balance of ₦20,000 in the account 'Office Equipment' and a balance of ₦15,000 in the account 'Office Supplies'. What is the correct journal entry to correct this error?

Answer Options

Correct Answer A. ₦5,000 debit to Office Supplies and ₦5,000 credit to Office Equipment
B. ₦5,000 credit to Office Supplies and ₦5,000 debit to Office Equipment
C. ₦25,000 debit to Office Supplies and ₦10,000 credit to Office Equipment
D. ₦10,000 debit to Office Supplies and ₦25,000 credit to Office Equipment
Correct Answer
A
Correct Option:
₦5,000 debit to Office Supplies and ₦5,000 credit to Office Equipment

About This Question

This is Post Utme Redeemers University 2017 Accounting Question 30. It is one of the objective questions from the 2017 Post Utme Redeemers University Accounting examination.

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