Post Utme Veritas University 2019 Accounting Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2019 Accounting Objective / Multiple Choice
Question 20 POST_UTME_VERITAS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦200,000 in the account 'Salaries and Wages' and a credit balance of ₦150,000 in the account 'Salaries and Wages Payable'. What is the correct journal entry to rectify this error?

Answer Options

A. Debit Salaries and Wages Payable ₦50,000, Credit Salaries and Wages ₦50,000
Correct Answer B. Debit Salaries and Wages ₦50,000, Credit Salaries and Wages Payable ₦50,000
C. Debit Salaries and Wages ₦200,000, Credit Salaries and Wages Payable ₦200,000
D. Debit Salaries and Wages Payable ₦150,000, Credit Salaries and Wages ₦150,000
Correct Answer
B
Correct Option:
Debit Salaries and Wages ₦50,000, Credit Salaries and Wages Payable ₦50,000

About This Question

This is Post Utme Veritas University 2019 Accounting Question 20. It is one of the objective questions from the 2019 Post Utme Veritas University Accounting examination.

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