Post Utme Aaua 2020 Accounting Question 27

Practice objective / multiple choice question 27 from the 2020 Post Utme Aaua Accounting examination.

Post Utme Aaua 2020 Accounting Objective / Multiple Choice
Question 27 POST_UTME_AAUA • 2020 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable ₦ 50,000, Sales Revenue ₦ 200,000, Cost of Goods Sold ₦ 150,000, and Common Stock ₦ 100,000. Prepare the company's balance sheet.

Answer Options

Correct Answer A. { "Assets": { "Cash": 50,000, "Accounts Payable": 50,000 }, "Liabilities": { "Common Stock": 100,000 }, "Equity": { "Sales Revenue": 200,000, "Cost of Goods Sold": 150,000 } }
B. { "Assets": { "Cash": 50,000, "Accounts Payable": 50,000 }, "Liabilities": { "Common Stock": 100,000, "Sales Revenue": 200,000 }, "Equity": { "Cost of Goods Sold": 150,000 } }
C. { "Assets": { "Cash": 50,000, "Accounts Payable": 50,000 }, "Liabilities": { "Common Stock": 100,000, "Cost of Goods Sold": 150,000 }, "Equity": { "Sales Revenue": 200,000 } }
D. { "Assets": { "Cash": 50,000, "Accounts Payable": 50,000 }, "Liabilities": { "Common Stock": 100,000, "Sales Revenue": 200,000 }, "Equity": { "Cost of Goods Sold": 150,000 } }
Correct Answer
A
Correct Option:
{ "Assets": { "Cash": 50,000, "Accounts Payable": 50,000 }, "Liabilities": { "Common Stock": 100,000 }, "Equity": { "Sales Revenue": 200,000, "Cost of Goods Sold": 150,000 } }

About This Question

This is Post Utme Aaua 2020 Accounting Question 27. It is one of the objective questions from the 2020 Post Utme Aaua Accounting examination.

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