Post Utme Covenant University 2022 Accounting Question 22

Practice objective / multiple choice question 22 from the 2022 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2022 Accounting Objective / Multiple Choice
Question 22 POST_UTME_COVENANT_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable 20,000, Accounts Receivable 15,000, Common Stock 50,000, and Retained Earnings 30,000. Prepare a balance sheet for the company.

Answer Options

Correct Answer A. Assets: 65,000, Liabilities: 20,000, Equity: 45,000
B. Assets: 75,000, Liabilities: 20,000, Equity: 55,000
C. Assets: 85,000, Liabilities: 20,000, Equity: 65,000
D. Assets: 95,000, Liabilities: 20,000, Equity: 75,000
Correct Answer
A
Correct Option:
Assets: 65,000, Liabilities: 20,000, Equity: 45,000

About This Question

This is Post Utme Covenant University 2022 Accounting Question 22. It is one of the objective questions from the 2022 Post Utme Covenant University Accounting examination.

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