Post Utme Afe Babalola University 2019 Accounting Question 11
Practice objective / multiple choice question 11 from the 2019 Post Utme Afe Babalola University Accounting examination.
A company uses the single entry system. The following transactions were recorded in the year ended December 31, 2022: 1. Purchased office equipment for ₦120,000. 2. Sold goods for ₦500,000. 3. Purchased raw materials for ₦300,000. 4. Paid salaries of ₦200,000. 5. Collected cash from customers for ₦600,000. 6. Paid rent for ₦150,000. 7. Purchased factory equipment for ₦250,000. 8. Sold factory equipment for ₦180,000. 9. Paid dividends of ₦100,000. 10. Purchased land for ₦500,000. Determine the total assets of the company at the end of the year.
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About This Question
This is Post Utme Afe Babalola University 2019 Accounting Question 11. It is one of the objective questions from the 2019 Post Utme Afe Babalola University Accounting examination.
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