Waec Model Questions Vol1 2019 Financial Accounting Question 42

Practice objective / multiple choice question 42 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2019 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 42 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • FINANCIAL_ACCOUNTING • objective

At the end of the accounting period, employees have earned salaries amounting to ₦45,000 which have not yet been paid. Under the accrual basis of accounting, record the appropriate journal entry for this transaction.

Answer Options

A. Debit Salaries Expense ₦45,000; Credit Cash ₦45,000
B. Debit Salaries Expense ₦40,000; Credit Salaries Payable ₦40,000
Correct Answer C. Debit Salaries Expense ₦45,000; Credit Salaries Payable ₦45,000
D. Debit Salaries Payable ₦45,000; Credit Salaries Expense ₦45,000
Correct Answer
C
Correct Option:
Debit Salaries Expense ₦45,000; Credit Salaries Payable ₦45,000

About This Question

This is Waec Model Questions Vol1 2019 Financial Accounting Question 42. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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