Post Utme Rsu 2020 Accounting Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Rsu Accounting examination.

Post Utme Rsu 2020 Accounting Objective / Multiple Choice

Question 26 POST_UTME_RSU • 2020 • ACCOUNTING • objective

A government agency has the following transactions: Purchase of equipment for ₦1,500,000, Salaries ₦800,000, and Rent ₦200,000. Prepare the journal entries for these transactions.

Correct Answer A. Debit Equipment ₦1,500,000, Credit Cash ₦1,500,000

B. Debit Salaries ₦800,000, Credit Cash ₦800,000

C. Debit Rent ₦200,000, Credit Cash ₦200,000

D. Debit Equipment ₦1,500,000, Credit Salaries ₦800,000, Credit Rent ₦200,000

Correct Answer

Correct Option:

Debit Equipment ₦1,500,000, Credit Cash ₦1,500,000

This is Post Utme Rsu 2020 Accounting Question 26. It is one of the objective questions from the 2020 Post Utme Rsu Accounting examination.

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