Post Utme Bowen University 2024 Accounting Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2024 Accounting Objective / Multiple Choice
Question 13 POST_UTME_BOWEN_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's profit and loss account for the year ended December 31, 2023, is as follows: Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Gross Profit ₦50,000, Operating Expenses ₦20,000, Net Profit ₦30,000. Prepare the company's statement of changes in equity for the year ended December 31, 2023.

Answer Options

Correct Answer A. Statement of Changes in Equity: ₦30,000
B. Statement of Changes in Equity: ₦50,000
C. Statement of Changes in Equity: ₦20,000
D. Statement of Changes in Equity: ₦10,000
Correct Answer
A
Correct Option:
Statement of Changes in Equity: ₦30,000

About This Question

This is Post Utme Bowen University 2024 Accounting Question 13. It is one of the objective questions from the 2024 Post Utme Bowen University Accounting examination.

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