Post Utme Covenant University 2017 Accounting Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2017 Accounting Objective / Multiple Choice
Question 27 POST_UTME_COVENANT_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following ledger balances: Accounts Payable 50,000, Accounts Receivable 30,000, Common Stock 100,000, Dividends 20,000. If the company's total assets are 250,000, calculate the amount of Retained Earnings.

Answer Options

A. ₦20,000
B. ₦30,000
Correct Answer C. ₦40,000
D. ₦50,000
Correct Answer
C
Correct Option:
₦40,000

About This Question

This is Post Utme Covenant University 2017 Accounting Question 27. It is one of the objective questions from the 2017 Post Utme Covenant University Accounting examination.

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