Post Utme Uniport 2017 Accounting Question 9

Practice objective / multiple choice question 9 from the 2017 Post Utme Uniport Accounting examination.

Post Utme Uniport 2017 Accounting Objective / Multiple Choice
Question 9 POST_UTME_UNIPORT • 2017 • ACCOUNTING • objective

A company's balance sheet shows a capital of £,000. The company's profit and loss account shows a profit of £,800. Prepare the necessary journal entry to rectify the error.

Answer Options

A. Debit Capital £,800, Credit Profit and Loss £,800
Correct Answer B. Debit Profit and Loss £,800, Credit Capital £,800
C. Debit Capital £,800, Credit Bank £,800
D. Debit Profit and Loss £,800, Credit Trading Account £,800
Correct Answer
B
Correct Option:
Debit Profit and Loss £,800, Credit Capital £,800

About This Question

This is Post Utme Uniport 2017 Accounting Question 9. It is one of the objective questions from the 2017 Post Utme Uniport Accounting examination.

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