Post Utme Redeemers University 2021 Accounting Question 22

Practice objective / multiple choice question 22 from the 2021 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2021 Accounting Objective / Multiple Choice
Question 22 POST_UTME_REDEEMERS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance showed a debit balance of £ 10,000 in the account 'Rent Received'. The correct balance should be a credit balance of £ 10,000. What is the correct journal entry to correct the error?

Answer Options

A. Debit Rent Received £ 10,000, Credit Rent Received £ 10,000
B. Debit Rent Received £ 10,000, Credit Profit and Loss £ 10,000
Correct Answer C. Debit Profit and Loss £ 10,000, Credit Rent Received £ 10,000
D. Debit Rent Received £ 10,000, Credit Rent Paid £ 10,000
Correct Answer
C
Correct Option:
Debit Profit and Loss £ 10,000, Credit Rent Received £ 10,000

About This Question

This is Post Utme Redeemers University 2021 Accounting Question 22. It is one of the objective questions from the 2021 Post Utme Redeemers University Accounting examination.

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