Post Utme Uniport 2022 Accounting Question 36

Practice objective / multiple choice question 36 from the 2022 Post Utme Uniport Accounting examination.

Post Utme Uniport 2022 Accounting Objective / Multiple Choice
Question 36 POST_UTME_UNIPORT • 2022 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent Expense' account. However, the company's accounting records show that the rent expense for the year was ₦20,000. What is the correct journal entry to record the correction?

Answer Options

A. Debit Rent Expense ₦15,000, Credit Rent Payable ₦15,000
Correct Answer B. Debit Rent Expense ₦20,000, Credit Rent Payable ₦20,000
C. Debit Rent Expense ₦15,000, Credit Rent Expense ₦5,000
D. Debit Rent Payable ₦15,000, Credit Rent Expense ₦15,000
Correct Answer
B
Correct Option:
Debit Rent Expense ₦20,000, Credit Rent Payable ₦20,000

About This Question

This is Post Utme Uniport 2022 Accounting Question 36. It is one of the objective questions from the 2022 Post Utme Uniport Accounting examination.

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