Post Utme Unilorin 2024 Accounting Question 37

Practice objective / multiple choice question 37 from the 2024 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2024 Accounting Objective / Multiple Choice
Question 37 POST_UTME_UNILORIN • 2024 • ACCOUNTING • objective

A government agency's cash book shows a balance of ₦20,000. However, the bank statement shows a balance of ₦25,000. What is the correct journal entry to reconcile this difference?

Answer Options

A. ₦5,000 debit to cash and ₦5,000 credit to bank
B. ₦5,000 credit to cash and ₦5,000 debit to bank
C. ₦5,000 debit to bank and ₦5,000 credit to cash
Correct Answer D. ₦5,000 credit to bank and ₦5,000 debit to cash
Correct Answer
D
Correct Option:
₦5,000 credit to bank and ₦5,000 debit to cash

About This Question

This is Post Utme Unilorin 2024 Accounting Question 37. It is one of the objective questions from the 2024 Post Utme Unilorin Accounting examination.

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