Post Utme Skyline University 2024 Accounting Question 12

Practice objective / multiple choice question 12 from the 2024 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2024 Accounting Objective / Multiple Choice
Question 12 POST_UTME_SKYLINE_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trial balance showed an error of ₦5,000 due to an incorrect posting of a sale. The error was discovered when the company's accountant prepared the financial statements. What is the correct journal entry to rectify the error?

Answer Options

Correct Answer A. Debit Sales A/c ₦5,000, Credit Profit & Loss A/c ₦5,000
B. Debit Profit & Loss A/c ₦5,000, Credit Sales A/c ₦5,000
C. Debit Sales A/c ₦5,000, Credit Cash A/c ₦5,000
D. Debit Profit & Loss A/c ₦5,000, Credit Cash A/c ₦5,000
Correct Answer
A
Correct Option:
Debit Sales A/c ₦5,000, Credit Profit & Loss A/c ₦5,000

About This Question

This is Post Utme Skyline University 2024 Accounting Question 12. It is one of the objective questions from the 2024 Post Utme Skyline University Accounting examination.

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