Accounting WAEC

A cash payment of ₦85 to Regina was entered in the books as ₦58. The entries to correct the error are: debit?

A. regina’s account ₦27 : credit cash account ₦27
B. cash account ₦27 : credit Regina’s account ₦27
C. Regina’s account ₦143 : credit cash account ₦143
D. cash account ₦143 : credit Regina’s account ₦143

Correct Answer: Option A

A. regina’s account ₦27 : credit cash account ₦27

Sunday

Recent Posts

ETM 312 Theory Questions: Land Law and the Consequences of Unauthorized Land Transfers in Nigeria

300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Co-Ownership Structures and Land Acquisition Methods in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Rights in Community Land and Fundamental Land Concepts in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Customary Land Control and the Origins of Nigeria’s Land Use Act

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Land Ownership Principles and Transaction Laws in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 226 Theory Questions: Trespass: Types and Defenses in Property Law

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago