Post Utme Skyline University 2021 Accounting Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2021 Accounting Objective / Multiple Choice
Question 21 POST_UTME_SKYLINE_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Office Equipment' and a credit balance of ₦20,000 in the account 'Office Supplies'. What is the correct journal entry to record the adjustment for the difference?

Answer Options

A. ₦5,000 debit to Office Equipment and ₦5,000 credit to Office Supplies
Correct Answer B. ₦5,000 debit to Office Supplies and ₦5,000 credit to Office Equipment
C. ₦10,000 debit to Office Equipment and ₦10,000 credit to Office Supplies
D. ₦10,000 debit to Office Supplies and ₦10,000 credit to Office Equipment
Correct Answer
B
Correct Option:
₦5,000 debit to Office Supplies and ₦5,000 credit to Office Equipment

About This Question

This is Post Utme Skyline University 2021 Accounting Question 21. It is one of the objective questions from the 2021 Post Utme Skyline University Accounting examination.

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