Post Utme Delsu 2018 Accounting Question 7

Practice objective / multiple choice question 7 from the 2018 Post Utme Delsu Accounting examination.

Post Utme Delsu 2018 Accounting Objective / Multiple Choice
Question 7 POST_UTME_DELSU • 2018 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable £ 10,000, Accounts Receivable £ 5,000, Sales £ 50,000, Cost of Goods Sold £ 30,000. Prepare a corrected trial balance.

Answer Options

A. Accounts Payable £ 10,000 Accounts Receivable £ 5,000 Sales £ 60,000 Cost of Goods Sold £ 30,000
B. Accounts Payable £ 10,000 Accounts Receivable £ 5,000 Sales £ 50,000 Cost of Goods Sold £ 30,000
Correct Answer C. Accounts Payable £ 10,000 Accounts Receivable £ 5,000 Sales £ 50,000 Cost of Goods Sold £ 20,000
D. Accounts Payable £ 10,000 Accounts Receivable £ 5,000 Sales £ 50,000 Cost of Goods Sold £ 40,000
Correct Answer
C
Correct Option:
Accounts Payable £ 10,000 Accounts Receivable £ 5,000 Sales £ 50,000 Cost of Goods Sold £ 20,000

About This Question

This is Post Utme Delsu 2018 Accounting Question 7. It is one of the objective questions from the 2018 Post Utme Delsu Accounting examination.

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