Post Utme Skyline University 2025 Accounting Question 40

Practice objective / multiple choice question 40 from the 2025 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2025 Accounting Objective / Multiple Choice
Question 40 POST_UTME_SKYLINE_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance shows a credit balance of ₦300,000 in the 'Salaries Expense' account. However, the company's accounting records show that it has paid ₦200,000 in salaries for the year. Prepare the necessary journal entry to correct the error.

Answer Options

A. ₦100,000 credit to Salaries Expense and ₦100,000 debit to Cash
Correct Answer B. ₦200,000 credit to Salaries Expense and ₦200,000 debit to Cash
C. ₦100,000 credit to Salaries Expense and ₦300,000 debit to Cash
D. ₦300,000 credit to Salaries Expense and ₦200,000 debit to Cash
Correct Answer
B
Correct Option:
₦200,000 credit to Salaries Expense and ₦200,000 debit to Cash

About This Question

This is Post Utme Skyline University 2025 Accounting Question 40. It is one of the objective questions from the 2025 Post Utme Skyline University Accounting examination.

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