Post Utme Delsu 2022 Accounting Question 39
Practice objective / multiple choice question 39 from the 2022 Post Utme Delsu Accounting examination.
A company issued 10,000, 5% shares of ₦10 each at a premium of ₦2. The company's balance sheet at the beginning of the year showed a capital of ₦50,000 and a profit and loss account balance of ₦20,000. The company's trading account for the year ended 31st December 2022 shows a profit of ₦150,000. The company's balance sheet at the end of the year showed a capital of ₦200,000 and a profit and loss account balance of ₦100,000. Calculate the company's net profit for the year.
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About This Question
This is Post Utme Delsu 2022 Accounting Question 39. It is one of the objective questions from the 2022 Post Utme Delsu Accounting examination.
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