Post Utme Summit University 2025 Accounting Question 14

Practice objective / multiple choice question 14 from the 2025 Post Utme Summit University Accounting examination.

Post Utme Summit University 2025 Accounting Objective / Multiple Choice
Question 14 POST_UTME_SUMMIT_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦30,000 in the account 'Salaries' while the corresponding credit balance in the account 'Salaries Payable' is ₦20,000. What is the correct journal entry to rectify this error?

Answer Options

Correct Answer A. Debit Salaries Payable by ₦10,000 and Credit Salaries by ₦10,000
B. Debit Salaries Payable by ₦10,000 and Credit Salaries by ₦10,000 and also Debit Salaries by ₦30,000
C. Credit Salaries Payable by ₦10,000 and Debit Salaries by ₦10,000
D. Debit Salaries Payable by ₦10,000 and Credit Salaries by ₦10,000 and also Credit Salaries Payable by ₦20,000
Correct Answer
A
Correct Option:
Debit Salaries Payable by ₦10,000 and Credit Salaries by ₦10,000

About This Question

This is Post Utme Summit University 2025 Accounting Question 14. It is one of the objective questions from the 2025 Post Utme Summit University Accounting examination.

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