Post Utme Veritas University 2018 Accounting Question 35

Practice objective / multiple choice question 35 from the 2018 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2018 Accounting Objective / Multiple Choice
Question 35 POST_UTME_VERITAS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's trial balance as at 31st December, 2022, showed the following balances: Rent Received ₦150,000; Rent Paid ₦100,000; Depreciation ₦80,000; Interest Received ₦60,000. Prepare the necessary journal entries to rectify the errors in the trial balance.

Answer Options

A. Debit Rent Received ₦50,000; Credit Rent Paid ₦50,000
B. Debit Rent Received ₦30,000; Credit Rent Paid ₦30,000
Correct Answer C. Debit Rent Received ₦50,000; Credit Rent Paid ₦50,000
D. Debit Rent Received ₦70,000; Credit Rent Paid ₦70,000
Correct Answer
C
Correct Option:
Debit Rent Received ₦50,000; Credit Rent Paid ₦50,000

About This Question

This is Post Utme Veritas University 2018 Accounting Question 35. It is one of the objective questions from the 2018 Post Utme Veritas University Accounting examination.

View More Post Utme Veritas University 2018 Accounting Questions More Post Utme Veritas University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support