Post Utme Unilag 2024 Accounting Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Unilag Accounting examination.

Post Utme Unilag 2024 Accounting Objective / Multiple Choice
Question 6 POST_UTME_UNILAG • 2024 • ACCOUNTING • objective

A company's trial balance shows an error of ₦5,000 in the debit side of the account 'Rent and Rates'. The correct balance should be ₦10,000. What is the correct journal entry to rectify this error?

Answer Options

A. Debit Rent and Rates ₦5,000, Credit Profit and Loss ₦5,000
B. Debit Profit and Loss ₦5,000, Credit Rent and Rates ₦10,000
Correct Answer C. Debit Rent and Rates ₦10,000, Credit Profit and Loss ₦10,000
D. Debit Rent and Rates ₦10,000, Credit Rent and Rates ₦10,000
Correct Answer
C
Correct Option:
Debit Rent and Rates ₦10,000, Credit Profit and Loss ₦10,000

About This Question

This is Post Utme Unilag 2024 Accounting Question 6. It is one of the objective questions from the 2024 Post Utme Unilag Accounting examination.

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