Post Utme Bells University 2018 Accounting Question 14

Practice objective / multiple choice question 14 from the 2018 Post Utme Bells University Accounting examination.

Post Utme Bells University 2018 Accounting Objective / Multiple Choice
Question 14 POST_UTME_BELLS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company has the following balances in its ledger: Cash ₦50,000; Accounts Receivable ₦20,000; Inventory ₦30,000; Prepaid Rent ₦10,000; Equipment ₦40,000. Prepare the Balance Sheet for the company as at December 31, 2018.

Answer Options

A. Cash ₦50,000; Accounts Receivable ₦20,000; Inventory ₦30,000; Prepaid Rent ₦10,000; Equipment ₦40,000
B. Cash ₦50,000; Accounts Receivable ₦20,000; Inventory ₦30,000; Prepaid Rent ₦10,000; Equipment ₦60,000
Correct Answer C. Cash ₦50,000; Accounts Receivable ₦20,000; Inventory ₦30,000; Prepaid Rent ₦10,000; Equipment ₦40,000
D. Cash ₦50,000; Accounts Receivable ₦20,000; Inventory ₦30,000; Prepaid Rent ₦10,000; Equipment ₦80,000
Correct Answer
C
Correct Option:
Cash ₦50,000; Accounts Receivable ₦20,000; Inventory ₦30,000; Prepaid Rent ₦10,000; Equipment ₦40,000

About This Question

This is Post Utme Bells University 2018 Accounting Question 14. It is one of the objective questions from the 2018 Post Utme Bells University Accounting examination.

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