Post Utme Ui 2021 Accounting Question 27

Practice objective / multiple choice question 27 from the 2021 Post Utme Ui Accounting examination.

Post Utme Ui 2021 Accounting Objective / Multiple Choice
Question 27 POST_UTME_UI • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received'. However, the company's accounting records show that it has not received the rent from its tenant. What is the correct journal entry to record the situation?

Answer Options

A. ₦15,000 debit to Rent Received and ₦15,000 credit to Cash
B. ₦15,000 debit to Cash and ₦15,000 credit to Rent Received
C. ₦15,000 debit to Rent Received and ₦15,000 credit to Accrued Expenses
Correct Answer D. ₦15,000 debit to Accrued Expenses and ₦15,000 credit to Rent Received
Correct Answer
D
Correct Option:
₦15,000 debit to Accrued Expenses and ₦15,000 credit to Rent Received

About This Question

This is Post Utme Ui 2021 Accounting Question 27. It is one of the objective questions from the 2021 Post Utme Ui Accounting examination.

View More Post Utme Ui 2021 Accounting Questions More Post Utme Ui Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support