Post Utme Christopher University 2025 Accounting Question 25

Practice objective / multiple choice question 25 from the 2025 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2025 Accounting Objective / Multiple Choice
Question 25 POST_UTME_CHRISTOPHER_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's income statement for the year ended December 31, 2024, showed the following: Sales ₦500,000, Cost of Goods Sold ₦300,000, Gross Profit ₦200,000, Operating Expenses ₦50,000, Net Income ₦150,000. Prepare the company's statement of stockholders' equity.

Answer Options

Correct Answer A. Common Stock ₦100,000, Retained Earnings ₦30,000, Total Stockholders' Equity ₦130,000
B. Common Stock ₦100,000, Retained Earnings ₦30,000, Total Stockholders' Equity ₦130,000
C. Common Stock ₦100,000, Retained Earnings ₦30,000, Total Stockholders' Equity ₦130,000
D. Common Stock ₦100,000, Retained Earnings ₦30,000, Total Stockholders' Equity ₦130,000
Correct Answer
A
Correct Option:
Common Stock ₦100,000, Retained Earnings ₦30,000, Total Stockholders' Equity ₦130,000

About This Question

This is Post Utme Christopher University 2025 Accounting Question 25. It is one of the objective questions from the 2025 Post Utme Christopher University Accounting examination.

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