Post Utme Unilorin 2025 Accounting Question 20

Practice objective / multiple choice question 20 from the 2025 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2025 Accounting Objective / Multiple Choice
Question 20 POST_UTME_UNILORIN • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received' and a credit balance of ₦20,000 in the account 'Rent Paid'. What is the correct journal entry to rectify this error?

Answer Options

A. ₦5,000 debit to Rent Received and ₦5,000 credit to Rent Paid
Correct Answer B. ₦20,000 debit to Rent Paid and ₦15,000 credit to Rent Received
C. ₦5,000 debit to Rent Paid and ₦5,000 credit to Rent Received
D. ₦10,000 debit to Rent Received and ₦10,000 credit to Rent Paid
Correct Answer
B
Correct Option:
₦20,000 debit to Rent Paid and ₦15,000 credit to Rent Received

About This Question

This is Post Utme Unilorin 2025 Accounting Question 20. It is one of the objective questions from the 2025 Post Utme Unilorin Accounting examination.

View More Post Utme Unilorin 2025 Accounting Questions More Post Utme Unilorin 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