Post Utme Aaua 2021 Accounting Question 38
Practice objective / multiple choice question 38 from the 2021 Post Utme Aaua Accounting examination.
A company uses the double-entry system of accounting. The following transactions occurred during the month of January: (1) Purchased office supplies for ₦10,000 cash. (2) Sold goods for ₦50,000 on credit to a customer. (3) Purchased a machine for ₦80,000 on credit from a supplier. (4) Collected ₦30,000 cash from a customer who owed the company ₦50,000. What is the total amount of assets on the balance sheet at the end of January?
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About This Question
This is Post Utme Aaua 2021 Accounting Question 38. It is one of the objective questions from the 2021 Post Utme Aaua Accounting examination.
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