Post Utme Eksu 2018 Accounting Question 27

Practice objective / multiple choice question 27 from the 2018 Post Utme Eksu Accounting examination.

Post Utme Eksu 2018 Accounting Objective / Multiple Choice
Question 27 POST_UTME_EKSU • 2018 • ACCOUNTING • objective

A company's trial balance as at 31st December 2022 is as follows: Debit ₦ 10,000 Cash ₦ 20,000 Accounts Payable ₦ 30,000 Credit ₦ 10,000 Bank Loan ₦ 20,000 Sales Revenue ₦ 30,000 Prepare the balance sheet as at 31st December 2022.

Answer Options

Correct Answer A. Assets ₦ 60,000, Liabilities ₦ 50,000, Equity ₦ 10,000
B. Assets ₦ 50,000, Liabilities ₦ 60,000, Equity ₦ 10,000
C. Assets ₦ 60,000, Liabilities ₦ 40,000, Equity ₦ 20,000
D. Assets ₦ 50,000, Liabilities ₦ 40,000, Equity ₦ 10,000
Correct Answer
A
Correct Option:
Assets ₦ 60,000, Liabilities ₦ 50,000, Equity ₦ 10,000

About This Question

This is Post Utme Eksu 2018 Accounting Question 27. It is one of the objective questions from the 2018 Post Utme Eksu Accounting examination.

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