Post Utme Rsu 2018 Accounting Question 40

Practice objective / multiple choice question 40 from the 2018 Post Utme Rsu Accounting examination.

Post Utme Rsu 2018 Accounting Objective / Multiple Choice
Question 40 POST_UTME_RSU • 2018 • ACCOUNTING • objective

A company prepares a trial balance on December 31, 2022. The trial balance shows a debit balance of ₦25,000 in the 'Office Supplies' account. However, the company's accountant realizes that the office supplies on hand at the end of the year are ₦18,000. What is the correct journal entry to correct the error?

Answer Options

A. Debit Office Supplies ₦25,000, Credit Office Supplies Expense ₦25,000
Correct Answer B. Debit Office Supplies ₦18,000, Credit Office Supplies Expense ₦18,000
C. Debit Office Supplies ₦25,000, Credit Office Supplies Expense ₦18,000
D. Debit Office Supplies Expense ₦18,000, Credit Office Supplies ₦18,000
Correct Answer
B
Correct Option:
Debit Office Supplies ₦18,000, Credit Office Supplies Expense ₦18,000

About This Question

This is Post Utme Rsu 2018 Accounting Question 40. It is one of the objective questions from the 2018 Post Utme Rsu Accounting examination.

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