Post Utme Rhema University 2019 Accounting Question 5

Practice objective / multiple choice question 5 from the 2019 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2019 Accounting Objective / Multiple Choice
Question 5 POST_UTME_RHEMA_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has the following transactions: | Date | Description | Debit | Credit | | --- | --- | --- | --- | | 1 Jan | Rent Received | ₦10,000 | | | 2 Jan | Rent Paid | | ₦8,000 | | 3 Jan | Purchase of Equipment | ₦20,000 | | What is the correct journal entry to record the purchase of equipment?

Answer Options

Correct Answer A. ₦20,000 debit to Equipment
B. ₦20,000 credit to Equipment
C. ₦20,000 debit to Rent Received
D. ₦20,000 credit to Rent Paid
Correct Answer
A
Correct Option:
₦20,000 debit to Equipment

About This Question

This is Post Utme Rhema University 2019 Accounting Question 5. It is one of the objective questions from the 2019 Post Utme Rhema University Accounting examination.

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