Post Utme Uniosun 2018 Accounting Question 9

Practice objective / multiple choice question 9 from the 2018 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2018 Accounting Objective / Multiple Choice
Question 9 POST_UTME_UNIOSUN • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the account 'Accrued Expenses' and a credit balance of ₦60,000 in the account 'Accrued Income'. What is the correct journal entry to rectify this error?

Answer Options

A. ₦10,000 debit to Accrued Expenses and ₦10,000 credit to Accrued Income
B. ₦10,000 debit to Accrued Income and ₦10,000 credit to Accrued Expenses
C. ₦60,000 debit to Accrued Expenses and ₦50,000 credit to Accrued Income
Correct Answer D. ₦50,000 debit to Accrued Income and ₦60,000 credit to Accrued Expenses
Correct Answer
D
Correct Option:
₦50,000 debit to Accrued Income and ₦60,000 credit to Accrued Expenses

About This Question

This is Post Utme Uniosun 2018 Accounting Question 9. It is one of the objective questions from the 2018 Post Utme Uniosun Accounting examination.

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