Post Utme Futo 2023 Accounting Question 39
Practice objective / multiple choice question 39 from the 2023 Post Utme Futo Accounting examination.
A government agency is responsible for the collection of taxes. The agency's trial balance as at 31st December 2022 is as follows: Debit: Cash ¡ 500,000 Accounts Payable ¡ 200,000 Taxes Collected ¡ 300,000 Credit: Accounts Receivable ¡ 150,000 Common Stock ¡ 400,000 Taxes Payable ¡ 250,000 What is the agency's net income for the year 2022?
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About This Question
This is Post Utme Futo 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Futo Accounting examination.
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