Post Utme Uniosun 2018 Accounting Question 25

Practice objective / multiple choice question 25 from the 2018 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2018 Accounting Objective / Multiple Choice
Question 25 POST_UTME_UNIOSUN • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the account 'Rent Received'. However, the company's accounts payable ledger shows a credit balance of ₦60,000 in the account 'Rent Paid'. What is the correct treatment of this discrepancy?

Answer Options

A. Debit the Rent Received account by ₦10,000
Correct Answer B. Credit the Rent Paid account by ₦10,000
C. Debit the Rent Received account by ₦60,000
D. Credit the Rent Paid account by ₦50,000
Correct Answer
B
Correct Option:
Credit the Rent Paid account by ₦10,000

About This Question

This is Post Utme Uniosun 2018 Accounting Question 25. It is one of the objective questions from the 2018 Post Utme Uniosun Accounting examination.

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