Post Utme Unilag 2018 Accounting Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Unilag Accounting examination.

Post Utme Unilag 2018 Accounting Objective / Multiple Choice
Question 11 POST_UTME_UNILAG • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦1,500 in the account 'Rent Received' and a credit balance of ₦1,200 in the account 'Rent Paid'. What is the correct journal entry to record the correction of this error?

Answer Options

A. Debit Rent Paid ₦300, Credit Rent Received ₦300
Correct Answer B. Debit Rent Paid ₦300, Credit Rent Received ₦1,500
C. Debit Rent Received ₦1,200, Credit Rent Paid ₦1,200
D. Debit Rent Received ₦1,500, Credit Rent Paid ₦1,200
Correct Answer
B
Correct Option:
Debit Rent Paid ₦300, Credit Rent Received ₦1,500

About This Question

This is Post Utme Unilag 2018 Accounting Question 11. It is one of the objective questions from the 2018 Post Utme Unilag Accounting examination.

View More Post Utme Unilag 2018 Accounting Questions More Post Utme Unilag 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