Post Utme Uniben 2023 Accounting Question 26

Practice objective / multiple choice question 26 from the 2023 Post Utme Uniben Accounting examination.

Post Utme Uniben 2023 Accounting Objective / Multiple Choice
Question 26 POST_UTME_UNIBEN • 2023 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦120,000 in the account 'Depreciation Expense' and a credit balance of ₦150,000 in the account 'Accumulated Depreciation'. What is the correct journal entry to record the depreciation of the company's assets?

Answer Options

A. Debit Accumulated Depreciation ₦120,000, Credit Depreciation Expense ₦120,000
B. Debit Accumulated Depreciation ₦150,000, Credit Depreciation Expense ₦150,000
Correct Answer C. Debit Accumulated Depreciation ₦120,000, Credit Depreciation Expense ₦150,000
D. Debit Accumulated Depreciation ₦150,000, Credit Depreciation Expense ₦120,000
Correct Answer
C
Correct Option:
Debit Accumulated Depreciation ₦120,000, Credit Depreciation Expense ₦150,000

About This Question

This is Post Utme Uniben 2023 Accounting Question 26. It is one of the objective questions from the 2023 Post Utme Uniben Accounting examination.

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