Post Utme Rhema University 2020 Accounting Question 29

Practice objective / multiple choice question 29 from the 2020 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2020 Accounting Objective / Multiple Choice
Question 29 POST_UTME_RHEMA_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent Received' account. Prepare the necessary journal entry to correct this error.

Answer Options

Correct Answer A. ₦15,000 debit to 'Rent Received' and ₦15,000 credit to 'Rent Paid'
B. ₦15,000 debit to 'Rent Paid' and ₦15,000 credit to 'Rent Received'
C. ₦15,000 debit to 'Rent Received' and ₦15,000 credit to 'Cash'
D. ₦15,000 debit to 'Cash' and ₦15,000 credit to 'Rent Received'
Correct Answer
A
Correct Option:
₦15,000 debit to 'Rent Received' and ₦15,000 credit to 'Rent Paid'

About This Question

This is Post Utme Rhema University 2020 Accounting Question 29. It is one of the objective questions from the 2020 Post Utme Rhema University Accounting examination.

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