Post Utme Uniport 2020 Accounting Question 2

Practice objective / multiple choice question 2 from the 2020 Post Utme Uniport Accounting examination.

Post Utme Uniport 2020 Accounting Objective / Multiple Choice
Question 2 POST_UTME_UNIPORT • 2020 • ACCOUNTING • objective

A firm's trial balance as at 31st December, 2020, showed a debit balance of ₦15,000 in the account 'Rent Received'. The correct balance should be a credit balance of ₦15,000. Pass the necessary journal entry to correct the error.

Answer Options

A. Debit Rent Received ₦15,000, Credit Rent Received ₦15,000
B. Debit Rent Received ₦15,000, Credit Profit and Loss Account ₦15,000
Correct Answer C. Debit Profit and Loss Account ₦15,000, Credit Rent Received ₦15,000
D. Debit Rent Received ₦15,000, Credit Bank ₦15,000
Correct Answer
C
Correct Option:
Debit Profit and Loss Account ₦15,000, Credit Rent Received ₦15,000

About This Question

This is Post Utme Uniport 2020 Accounting Question 2. It is one of the objective questions from the 2020 Post Utme Uniport Accounting examination.

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