Post Utme Summit University 2023 Accounting Question 14

Practice objective / multiple choice question 14 from the 2023 Post Utme Summit University Accounting examination.

Post Utme Summit University 2023 Accounting Objective / Multiple Choice

Question 14 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company has the following transactions: Purchased a new machine for ₦80,000; Sold a machine for ₦40,000; Purchased office supplies for ₦5,000 in cash. Prepare a journal entry to record the sale of the machine.

Answer Options

A. Machine A/c Dr. ₦40,000; Cash A/c Cr. ₦40,000

Correct Answer B. Machine A/c Dr. ₦40,000; Sales A/c Cr. ₦40,000

C. Machine A/c Dr. ₦40,000; Purchases A/c Cr. ₦40,000

D. Machine A/c Dr. ₦40,000; Office Supplies A/c Cr. ₦40,000

Correct Answer

Correct Option:

Machine A/c Dr. ₦40,000; Sales A/c Cr. ₦40,000

About This Question

This is Post Utme Summit University 2023 Accounting Question 14. It is one of the objective questions from the 2023 Post Utme Summit University Accounting examination.

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