Post Utme Bells University 2017 Accounting Question 20

Practice objective / multiple choice question 20 from the 2017 Post Utme Bells University Accounting examination.

Post Utme Bells University 2017 Accounting Objective / Multiple Choice
Question 20 POST_UTME_BELLS_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's balance sheet as at 31st December 2022, showed a total assets of ₦10,000,000. The company's profit and loss account for the year ended 31st December 2022, showed a net loss of ₦1,500,000. Calculate the company's retained earnings as at 31st December 2022.

Answer Options

Correct Answer A. ₦8,500,000
B. ₦8,000,000
C. ₦7,500,000
D. ₦7,000,000
Correct Answer
A
Correct Option:
₦8,500,000

About This Question

This is Post Utme Bells University 2017 Accounting Question 20. It is one of the objective questions from the 2017 Post Utme Bells University Accounting examination.

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