Post Utme Covenant University 2022 Accounting Question 25

Practice objective / multiple choice question 25 from the 2022 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2022 Accounting Objective / Multiple Choice
Question 25 POST_UTME_COVENANT_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable 25,000, Accounts Receivable 20,000, Common Stock 75,000, and Retained Earnings 40,000. Prepare a balance sheet for the company.

Answer Options

Correct Answer A. Assets: 105,000, Liabilities: 25,000, Equity: 80,000
B. Assets: 115,000, Liabilities: 25,000, Equity: 90,000
C. Assets: 125,000, Liabilities: 25,000, Equity: 100,000
D. Assets: 135,000, Liabilities: 25,000, Equity: 110,000
Correct Answer
A
Correct Option:
Assets: 105,000, Liabilities: 25,000, Equity: 80,000

About This Question

This is Post Utme Covenant University 2022 Accounting Question 25. It is one of the objective questions from the 2022 Post Utme Covenant University Accounting examination.

View More Post Utme Covenant University 2022 Accounting Questions More Post Utme Covenant University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support