Post Utme Summit University 2022 Accounting Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Summit University Accounting examination.

Post Utme Summit University 2022 Accounting Objective / Multiple Choice
Question 11 POST_UTME_SUMMIT_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance shows an error of ₦1,500 in the debit side of the account 'Rent Received'. The error is due to the omission of a receipt of ₦1,500 from a customer. Prepare the correcting journal entry.

Answer Options

Correct Answer A. Debit Rent Received ₦1,500, Credit Cash ₦1,500
B. Debit Rent Received ₦1,500, Credit Profit and Loss Account ₦1,500
C. Debit Profit and Loss Account ₦1,500, Credit Rent Received ₦1,500
D. Debit Rent Received ₦1,500, Credit Bank ₦1,500
Correct Answer
A
Correct Option:
Debit Rent Received ₦1,500, Credit Cash ₦1,500

About This Question

This is Post Utme Summit University 2022 Accounting Question 11. It is one of the objective questions from the 2022 Post Utme Summit University Accounting examination.

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