Post Utme Summit University 2023 Accounting Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Summit University Accounting examination.

Post Utme Summit University 2023 Accounting Objective / Multiple Choice
Question 12 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company has the following transactions: Purchased goods on credit for ₦100,000; Sold goods on credit for ₦120,000; Purchased office supplies for ₦5,000 in cash. Prepare a journal entry to record the purchase of office supplies.

Answer Options

A. Office Supplies A/c Dr. ₦5,000
Correct Answer B. Office Supplies A/c Dr. ₦5,000; Cash A/c Cr. ₦5,000
C. Office Supplies A/c Dr. ₦5,000; Purchases A/c Cr. ₦5,000
D. Office Supplies A/c Dr. ₦5,000; Sales A/c Cr. ₦5,000
Correct Answer
B
Correct Option:
Office Supplies A/c Dr. ₦5,000; Cash A/c Cr. ₦5,000

About This Question

This is Post Utme Summit University 2023 Accounting Question 12. It is one of the objective questions from the 2023 Post Utme Summit University Accounting examination.

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