Post Utme Elizade University 2020 Accounting Question 38

Practice objective / multiple choice question 38 from the 2020 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2020 Accounting Objective / Multiple Choice
Question 38 POST_UTME_ELIZADE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable £10,000, Accounts Receivable £20,000, Common Stock £50,000, Dividends £5,000. Prepare the balance sheet.

Answer Options

Correct Answer A. Assets: Accounts Receivable £20,000, Accounts Payable £10,000. Liabilities: Accounts Payable £10,000. Equity: Common Stock £50,000, Dividends £5,000
B. Assets: Accounts Receivable £20,000, Accounts Payable £10,000. Liabilities: Accounts Payable £10,000. Equity: Common Stock £50,000
C. Assets: Accounts Receivable £20,000. Liabilities: Accounts Payable £10,000. Equity: Common Stock £50,000, Dividends £5,000
D. Assets: Accounts Receivable £20,000. Liabilities: Accounts Payable £10,000. Equity: Common Stock £50,000
Correct Answer
A
Correct Option:
Assets: Accounts Receivable £20,000, Accounts Payable £10,000. Liabilities: Accounts Payable £10,000. Equity: Common Stock £50,000, Dividends £5,000

About This Question

This is Post Utme Elizade University 2020 Accounting Question 38. It is one of the objective questions from the 2020 Post Utme Elizade University Accounting examination.

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