Post Utme Bells University 2023 Accounting Question 3
Practice objective / multiple choice question 3 from the 2023 Post Utme Bells University Accounting examination.
A company's trial balance as of December 31, 2022, is as follows: Debit Accounts Payable ₦10,000 Accrued Expenses ₦5,000 Cash ₦20,000 Equipment ₦50,000 Inventory ₦30,000 Prepaid Rent ₦10,000 Salaries Payable ₦8,000 Total ₦123,000 Credit Accounts Receivable ₦25,000 Accrued Revenue ₦12,000 Common Stock ₦100,000 Dividends ₦5,000 Equipment ₦50,000 Notes Payable ₦20,000 Retained Earnings ₦30,000 Total ₦142,000 What is the balance of the Retained Earnings account?
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This is Post Utme Bells University 2023 Accounting Question 3. It is one of the objective questions from the 2023 Post Utme Bells University Accounting examination.
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