Post Utme Veritas University 2018 Accounting Question 33

Practice objective / multiple choice question 33 from the 2018 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2018 Accounting Objective / Multiple Choice
Question 33 POST_UTME_VERITAS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's balance sheet as at 31st December, 2022, showed the following: Share Capital ₦500,000; Profit and Loss Account ₦300,000; Accumulated Depreciation ₦100,000. Prepare the necessary ledger accounts to rectify the errors in the balance sheet.

Answer Options

A. Debit Share Capital ₦100,000; Credit Accumulated Depreciation ₦100,000
Correct Answer B. Debit Profit and Loss Account ₦100,000; Credit Accumulated Depreciation ₦100,000
C. Debit Share Capital ₦100,000; Credit Profit and Loss Account ₦100,000
D. Debit Accumulated Depreciation ₦100,000; Credit Profit and Loss Account ₦100,000
Correct Answer
B
Correct Option:
Debit Profit and Loss Account ₦100,000; Credit Accumulated Depreciation ₦100,000

About This Question

This is Post Utme Veritas University 2018 Accounting Question 33. It is one of the objective questions from the 2018 Post Utme Veritas University Accounting examination.

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