Post Utme Uniosun 2023 Accounting Question 27

Practice objective / multiple choice question 27 from the 2023 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2023 Accounting Objective / Multiple Choice
Question 27 POST_UTME_UNIOSUN • 2023 • ACCOUNTING • objective

A company has the following control account: Purchases Control ₦500,000. The company's ledger accounts show the following: Purchases ₦400,000, Returns Outwards ₦50,000. What is the correct journal entry to update the control account?

Answer Options

A. Debit Purchases Control ₦400,000, Credit Purchases ₦400,000
Correct Answer B. Debit Purchases Control ₦450,000, Credit Purchases ₦400,000, Debit Returns Outwards ₦50,000
C. Debit Purchases Control ₦450,000, Credit Purchases ₦400,000, Credit Returns Outwards ₦50,000
D. Debit Purchases Control ₦500,000, Credit Purchases ₦400,000, Debit Returns Outwards ₦100,000
Correct Answer
B
Correct Option:
Debit Purchases Control ₦450,000, Credit Purchases ₦400,000, Debit Returns Outwards ₦50,000

About This Question

This is Post Utme Uniosun 2023 Accounting Question 27. It is one of the objective questions from the 2023 Post Utme Uniosun Accounting examination.

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