Post Utme Rsu 2018 Accounting Question 26

Practice objective / multiple choice question 26 from the 2018 Post Utme Rsu Accounting examination.

Post Utme Rsu 2018 Accounting Objective / Multiple Choice
Question 26 POST_UTME_RSU • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent Expense' account. However, the company's accounting records show that the rent expense for the year was ₦20,000. What is the correct journal entry to correct the error?

Answer Options

A. ₦5,000 debit to Rent Expense and ₦5,000 credit to Cash
B. ₦5,000 debit to Rent Expense and ₦5,000 credit to Accounts Payable
Correct Answer C. ₦5,000 debit to Cash and ₦5,000 credit to Rent Expense
D. ₦5,000 debit to Rent Expense and ₦5,000 credit to Rent Payable
Correct Answer
C
Correct Option:
₦5,000 debit to Cash and ₦5,000 credit to Rent Expense

About This Question

This is Post Utme Rsu 2018 Accounting Question 26. It is one of the objective questions from the 2018 Post Utme Rsu Accounting examination.

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