Neco 2017 Financial Accounting Question 26

Practice objective / multiple choice question 26 from the 2017 Neco Financial Accounting examination.

Neco 2017 Financial Accounting Objective / Multiple Choice Easy Difficulty

Question 26 NECO • 2017 • FINANCIAL_ACCOUNTING • objective

Record the journal entry for the purchase of office equipment costing \(\text{₦}150,000\) cash.

Correct Answer A. Debit Office Equipment \(\text{₦}150,000\); Credit Cash \(\text{₦}150,000\)

B. Debit Cash \(\text{₦}150,000\); Credit Office Equipment \(\text{₦}150,000\)

C. Debit Office Supplies \(\text{₦}150,000\); Credit Cash \(\text{₦}150,000\)

D. Debit Office Equipment \(\text{₦}150,000\); Credit Accounts Payable \(\text{₦}150,000\)

Correct Answer

Correct Option:

Debit Office Equipment \(\text{₦}150,000\); Credit Cash \(\text{₦}150,000\)

This is Neco 2017 Financial Accounting Question 26. It is one of the objective questions from the 2017 Neco Financial Accounting examination.

Difficulty level: Easy .

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