Post Utme Skyline University 2025 Accounting Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2025 Accounting Objective / Multiple Choice
Question 38 POST_UTME_SKYLINE_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦200,000 in the 'Rent Income' account. However, the company's accounting records show that it has received ₦150,000 in rent for the year. Prepare the necessary journal entry to correct the error.

Answer Options

A. ₦50,000 debit to Rent Income and ₦50,000 credit to Cash
Correct Answer B. ₦150,000 debit to Rent Income and ₦150,000 credit to Cash
C. ₦50,000 debit to Rent Income and ₦200,000 credit to Cash
D. ₦200,000 debit to Rent Income and ₦150,000 credit to Cash
Correct Answer
B
Correct Option:
₦150,000 debit to Rent Income and ₦150,000 credit to Cash

About This Question

This is Post Utme Skyline University 2025 Accounting Question 38. It is one of the objective questions from the 2025 Post Utme Skyline University Accounting examination.

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