Post Utme Ui 2018 Accounting Question 37

Practice objective / multiple choice question 37 from the 2018 Post Utme Ui Accounting examination.

Post Utme Ui 2018 Accounting Objective / Multiple Choice
Question 37 POST_UTME_UI • 2018 • ACCOUNTING • objective

A company has the following transactions during the year: Partnership A invested ₦10,000 cash and Partnership B invested ₥20,000 cash. The company also purchased equipment for ₦30,000. Prepare the journal entries for the above transactions.

Answer Options

A. Debit equipment ₦30,000, credit cash ₦10,000
B. Debit equipment ₦30,000, credit cash ₦20,000
Correct Answer C. Debit equipment ₦30,000, credit cash ₦10,000
D. Debit equipment ₦30,000, credit cash ₦20,000
Correct Answer
C
Correct Option:
Debit equipment ₦30,000, credit cash ₦10,000

About This Question

This is Post Utme Ui 2018 Accounting Question 37. It is one of the objective questions from the 2018 Post Utme Ui Accounting examination.

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