Post Utme Bells University 2022 Accounting Question 5
Practice objective / multiple choice question 5 from the 2022 Post Utme Bells University Accounting examination.
A company's trading account for the year ended 31st December 2022 shows a profit of ₦1,200,000. The balance sheet at the beginning of the year showed a capital of ₦2,500,000 and drawings of ₦600,000. The balance sheet at the end of the year shows a capital of ₦3,800,000. Calculate the amount of profit transferred to the reserve account.
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About This Question
This is Post Utme Bells University 2022 Accounting Question 5. It is one of the objective questions from the 2022 Post Utme Bells University Accounting examination.
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