Neco 2019 Financial Accounting Question 21

Practice objective / multiple choice question 21 from the 2019 Neco Financial Accounting examination.

Neco 2019 Financial Accounting Objective / Multiple Choice Easy Difficulty

Question 21 NECO • 2019 • FINANCIAL_ACCOUNTING • objective

Record the journal entry for the purchase of office equipment costing \(\text{₦}200,000\), of which \(\text{₦}150,000\) was paid in cash and the balance was bought on credit.

A. Office Equipment Dr ₦150,000\nCash Cr ₦150,000\nAccounts Payable Cr ₦0

B. Office Equipment Dr ₦200,000\nCash Dr ₦150,000\nAccounts Payable Cr ₦50,000

Correct Answer C. Office Equipment Dr ₦200,000\nCash Cr ₦150,000\nAccounts Payable Cr ₦50,000

D. Office Equipment Dr ₦200,000\nCash Cr ₦100,000\nAccounts Payable Cr ₦100,000

Correct Answer

Correct Option:

Office Equipment Dr ₦200,000\nCash Cr ₦150,000\nAccounts Payable Cr ₦50,000

This is Neco 2019 Financial Accounting Question 21. It is one of the objective questions from the 2019 Neco Financial Accounting examination.

Difficulty level: Easy .

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