Post Utme Achievers University 2022 Accounting Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2022 Accounting Objective / Multiple Choice
Question 24 POST_UTME_ACHIEVERS_UNIVERSITY • 2022 • ACCOUNTING • objective

The following trial balance was extracted from the books of XYZ Ltd. at 31st December 2022.

Answer Options

Correct Answer A. | Account | Debit | Credit | | --- | --- | --- | | Cash | 10,000 | 0 | | Bank | 0 | 5,000 | | Sales | 0 | 20,000 | | Purchases | 15,000 | 0 | | Capital | 0 | 25,000 | | Drawings | 5,000 | 0 | | Profit | 0 | 5,000 | | --- | --- | --- | | Total | 20,000 | 20,000 |
B. | Account | Debit | Credit | | --- | --- | --- | | Cash | 10,000 | 0 | | Bank | 0 | 5,000 | | Sales | 20,000 | 0 | | Purchases | 0 | 15,000 | | Capital | 25,000 | 0 | | Drawings | 0 | 5,000 | | Profit | 5,000 | 0 | | --- | --- | --- | | Total | 20,000 | 20,000 |
C. | Account | Debit | Credit | | --- | --- | --- | | Cash | 10,000 | 0 | | Bank | 0 | 5,000 | | Sales | 20,000 | 0 | | Purchases | 15,000 | 0 | | Capital | 25,000 | 0 | | Drawings | 5,000 | 0 | | Profit | 0 | 5,000 | | --- | --- | --- | | Total | 20,000 | 20,000 |
D. | Account | Debit | Credit | | --- | --- | --- | | Cash | 10,000 | 0 | | Bank | 0 | 5,000 | | Sales | 0 | 20,000 | | Purchases | 15,000 | 0 | | Capital | 0 | 25,000 | | Drawings | 5,000 | 0 | | Profit | 5,000 | 0 | | --- | --- | --- | | Total | 20,000 | 20,000 |
Correct Answer
A
Correct Option:
| Account | Debit | Credit | | --- | --- | --- | | Cash | 10,000 | 0 | | Bank | 0 | 5,000 | | Sales | 0 | 20,000 | | Purchases | 15,000 | 0 | | Capital | 0 | 25,000 | | Drawings | 5,000 | 0 | | Profit | 0 | 5,000 | | --- | --- | --- | | Total | 20,000 | 20,000 |

About This Question

This is Post Utme Achievers University 2022 Accounting Question 24. It is one of the objective questions from the 2022 Post Utme Achievers University Accounting examination.

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