Post Utme Babcock University 2022 Accounting Question 5

Practice objective / multiple choice question 5 from the 2022 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2022 Accounting Objective / Multiple Choice
Question 5 POST_UTME_BABCOCK_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance as at 31st December 2022 is as follows: Debit ₦ 50,000 Cash ₦ 20,000 Office Equipment ₦ 30,000 Accounts Payable ₦ 10,000 Sales Revenue ₦ 15,000 Rent Expense ₦ 25,000 Utilities Expense Credit ₦ 20,000 Accounts Receivable ₦ 15,000 Salaries Expense ₦ 10,000 Office Supplies ₦ 30,000 Utilities Expense ₦ 25,000 Rent Expense What is the company's net profit for the year?

Answer Options

Correct Answer A. ₦25,000
B. ₦30,000
C. ₦35,000
D. ₦40,000
Correct Answer
A
Correct Option:
₦25,000

About This Question

This is Post Utme Babcock University 2022 Accounting Question 5. It is one of the objective questions from the 2022 Post Utme Babcock University Accounting examination.

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