Post Utme Achievers University 2020 Accounting Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2020 Accounting Objective / Multiple Choice
Question 36 POST_UTME_ACHIEVERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company has the following trial balance: Cash ₦200,000, Accounts Payable ₦150,000, Sales Revenue ₦500,000, Cost of Goods Sold ₦300,000. Prepare a balance sheet.

Answer Options

Correct Answer A. Assets ₦1,000,000, Liabilities ₦500,000, Equity ₦500,000
B. Assets ₦1,000,000, Liabilities ₦600,000, Equity ₦400,000
C. Assets ₦1,000,000, Liabilities ₦400,000, Equity ₦600,000
D. Assets ₦1,000,000, Liabilities ₦300,000, Equity ₦700,000
Correct Answer
A
Correct Option:
Assets ₦1,000,000, Liabilities ₦500,000, Equity ₦500,000

About This Question

This is Post Utme Achievers University 2020 Accounting Question 36. It is one of the objective questions from the 2020 Post Utme Achievers University Accounting examination.

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