Waec Model Questions Vol1 2019 Financial Accounting Question 40

Practice objective / multiple choice question 40 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2019 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 40 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • FINANCIAL_ACCOUNTING • objective

A company purchases equipment for cash amounting to N25,000. Identify the debit and credit entries required under the double‑entry system.

Answer Options

A. Debit Cash N25,000; Credit Equipment N25,000
B. Debit Equipment N25,000; Credit Cash N20,000
C. Debit Equipment N25,000; Credit Accounts Payable N25,000
Correct Answer D. Debit Equipment N25,000; Credit Cash N25,000
Correct Answer
D
Correct Option:
Debit Equipment N25,000; Credit Cash N25,000

About This Question

This is Waec Model Questions Vol1 2019 Financial Accounting Question 40. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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