Post Utme Unilag 2024 Accounting Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Unilag Accounting examination.

Post Utme Unilag 2024 Accounting Objective / Multiple Choice
Question 8 POST_UTME_UNILAG • 2024 • ACCOUNTING • objective

A company's balance sheet shows an error of ₦10,000 in the debit side of the account 'Accumulated Depreciation'. The correct balance should be ₦00,000. What is the correct journal entry to rectify this error?

Answer Options

A. Debit Accumulated Depreciation ₦10,000, Credit Profit and Loss ₦10,000
B. Debit Profit and Loss ₦10,000, Credit Accumulated Depreciation ₦00,000
Correct Answer C. Debit Accumulated Depreciation ₦00,000, Credit Profit and Loss ₦00,000
D. Debit Accumulated Depreciation ₦00,000, Credit Accumulated Depreciation ₦00,000
Correct Answer
C
Correct Option:
Debit Accumulated Depreciation ₦00,000, Credit Profit and Loss ₦00,000

About This Question

This is Post Utme Unilag 2024 Accounting Question 8. It is one of the objective questions from the 2024 Post Utme Unilag Accounting examination.

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