Post Utme Rhema University 2020 Accounting Question 35

Practice objective / multiple choice question 35 from the 2020 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2020 Accounting Objective / Multiple Choice

Question 35 POST_UTME_RHEMA_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a credit balance of ₦10,000 in the 'Rent Paid' account. Prepare the necessary journal entry to correct this error.

Answer Options

A. ₦10,000 debit to 'Rent Paid' and ₦10,000 credit to 'Rent Received'

Correct Answer B. ₦10,000 debit to 'Rent Received' and ₦10,000 credit to 'Rent Paid'

C. ₦10,000 debit to 'Rent Paid' and ₦10,000 credit to 'Accrued Expenses'

D. ₦10,000 debit to 'Accrued Expenses' and ₦10,000 credit to 'Rent Paid'

Correct Answer

Correct Option:

₦10,000 debit to 'Rent Received' and ₦10,000 credit to 'Rent Paid'

About This Question

This is Post Utme Rhema University 2020 Accounting Question 35. It is one of the objective questions from the 2020 Post Utme Rhema University Accounting examination.

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