Post Utme Summit University 2017 Accounting Question 24

Practice objective / multiple choice question 24 from the 2017 Post Utme Summit University Accounting examination.

Post Utme Summit University 2017 Accounting Objective / Multiple Choice
Question 24 POST_UTME_SUMMIT_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦10,000 in the account 'Salaries Expense' and a credit balance of ₦15,000 in the account 'Salaries Payable'. What is the correct journal entry to record the correction of this error?

Answer Options

A. Debit Salaries Payable ₦5,000, Credit Salaries Expense ₦5,000
B. Debit Salaries Expense ₦10,000, Credit Salaries Payable ₦10,000
C. Debit Salaries Payable ₦15,000, Credit Salaries Expense ₦15,000
Correct Answer D. Debit Salaries Expense ₦5,000, Credit Salaries Payable ₦5,000
Correct Answer
D
Correct Option:
Debit Salaries Expense ₦5,000, Credit Salaries Payable ₦5,000

About This Question

This is Post Utme Summit University 2017 Accounting Question 24. It is one of the objective questions from the 2017 Post Utme Summit University Accounting examination.

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