Post Utme Al Hikmah University 2023 Accounting Question 8
Practice objective / multiple choice question 8 from the 2023 Post Utme Al Hikmah University Accounting examination.
A company prepares its final accounts for the year ended 31st December 2022. The company's trial balance as at 31st December 2022 is as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦50,000 | ₦0 | | Bank | ₦20,000 | ₦0 | | Accounts Payable | ₦0 | ₦30,000 | | Sales | ₦0 | ₦150,000 | | Cost of Goods Sold | ₦0 | ₦80,000 | | Profit | ₦0 | ₦0 | | Total | ₦70,000 | ₦220,000 | What is the amount of profit for the year ended 31st December 2022?
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This is Post Utme Al Hikmah University 2023 Accounting Question 8. It is one of the objective questions from the 2023 Post Utme Al Hikmah University Accounting examination.
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