Post Utme Unilag 2018 Accounting Question 12

Practice objective / multiple choice question 12 from the 2018 Post Utme Unilag Accounting examination.

Post Utme Unilag 2018 Accounting Objective / Multiple Choice
Question 12 POST_UTME_UNILAG • 2018 • ACCOUNTING • objective

A company uses a self-balancing ledger system. The ledger shows a debit balance of ₦2,000 in the account 'Purchases' and a credit balance of ₦1,800 in the account 'Returns Inwards'. What is the correct journal entry to record the correction of this error?

Answer Options

Correct Answer A. Debit Purchases ₦200, Credit Returns Inwards ₦200
B. Debit Purchases ₦200, Credit Returns Inwards ₦1,800
C. Debit Returns Inwards ₦1,800, Credit Purchases ₦1,800
D. Debit Purchases ₦2,000, Credit Returns Inwards ₦1,800
Correct Answer
A
Correct Option:
Debit Purchases ₦200, Credit Returns Inwards ₦200

About This Question

This is Post Utme Unilag 2018 Accounting Question 12. It is one of the objective questions from the 2018 Post Utme Unilag Accounting examination.

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