Post Utme Wellspring University 2023 Accounting Question 21

Practice objective / multiple choice question 21 from the 2023 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2023 Accounting Objective / Multiple Choice
Question 21 POST_UTME_WELLSPRING_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trial balance shows an error of ¦5,000 due to an incorrect posting of a transaction. The company's accountant has identified that the error is due to an incorrect debit of £5,000 to the office supplies account and an incorrect credit of £5,000 to the office equipment account. What is the correct journal entry to rectify the error?

Answer Options

A. Debit office supplies £5,000, Credit office equipment £5,000
Correct Answer B. Debit office equipment £5,000, Credit office supplies £5,000
C. Debit office supplies £5,000, Credit cash £5,000
D. Credit office supplies £5,000, Debit office equipment £5,000
Correct Answer
B
Correct Option:
Debit office equipment £5,000, Credit office supplies £5,000

About This Question

This is Post Utme Wellspring University 2023 Accounting Question 21. It is one of the objective questions from the 2023 Post Utme Wellspring University Accounting examination.

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