Post Utme Redeemers University 2019 Accounting Question 12

Practice objective / multiple choice question 12 from the 2019 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2019 Accounting Objective / Multiple Choice
Question 12 POST_UTME_REDEEMERS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance showed an error of ₦10,000 in the accounts payable account. The correct balance should be ₦50,000. Prepare the necessary journal entry to rectify the error.

Answer Options

A. Debit Accounts Payable ₦60,000, Credit Cash ₦60,000
B. Debit Accounts Payable ₦40,000, Credit Cash ₦40,000
Correct Answer C. Debit Accounts Payable ₦50,000, Credit Cash ₦50,000
D. Debit Accounts Payable ₦60,000, Credit Cash ₦40,000
Correct Answer
C
Correct Option:
Debit Accounts Payable ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Redeemers University 2019 Accounting Question 12. It is one of the objective questions from the 2019 Post Utme Redeemers University Accounting examination.

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