Post Utme Rhema University 2018 Accounting Question 36

Practice objective / multiple choice question 36 from the 2018 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2018 Accounting Objective / Multiple Choice
Question 36 POST_UTME_RHEMA_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received' and a credit balance of ₦20,000 in the account 'Rent Paid'. What is the correct journal entry to rectify this discrepancy?

Answer Options

A. ₦5,000 debit to Rent Received and ₦5,000 credit to Rent Paid
Correct Answer B. ₦5,000 debit to Rent Paid and ₦5,000 credit to Rent Received
C. ₦10,000 debit to Rent Received and ₦10,000 credit to Rent Paid
D. ₦10,000 debit to Rent Paid and ₦10,000 credit to Rent Received
Correct Answer
B
Correct Option:
₦5,000 debit to Rent Paid and ₦5,000 credit to Rent Received

About This Question

This is Post Utme Rhema University 2018 Accounting Question 36. It is one of the objective questions from the 2018 Post Utme Rhema University Accounting examination.

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