Waec Model Questions Vol1 2020 Financial Accounting Question 32

Practice objective / multiple choice question 32 from the 2020 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2020 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 32 WAEC_MODEL_QUESTIONS_VOL1 • 2020 • FINANCIAL_ACCOUNTING • objective

At the start of the month, prepaid rent of ₦24,000 covering six months was recorded. After two months have elapsed, prepare the adjusting entry required at month‑end.

Answer Options

Correct Answer A. Debit Rent Expense ₦8,000; Credit Prepaid Rent ₦8,000
B. Debit Rent Expense ₦4,000; Credit Prepaid Rent ₦4,000
C. Debit Rent Expense ₦12,000; Credit Prepaid Rent ₦12,000
D. Debit Rent Expense ₦6,000; Credit Prepaid Rent ₦6,000
Correct Answer
A
Correct Option:
Debit Rent Expense ₦8,000; Credit Prepaid Rent ₦8,000

About This Question

This is Waec Model Questions Vol1 2020 Financial Accounting Question 32. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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