Post Utme Greenfield University 2022 Accounting Question 36
Practice objective / multiple choice question 36 from the 2022 Post Utme Greenfield University Accounting examination.
A company's accounting records are incomplete due to a fire that destroyed its office. The company's accountant has managed to recover the following information: the company's cash balance on January 1, 2022, was ₦250,000; the company's cash balance on December 31, 2022, was ₦500,000; the company's total assets on December 31, 2022, were ₦2,500,000; and the company's total liabilities on December 31, 2022, were ₦1,000,000. Using the single-entry system, prepare a statement of financial position as at December 31, 2022.
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About This Question
This is Post Utme Greenfield University 2022 Accounting Question 36. It is one of the objective questions from the 2022 Post Utme Greenfield University Accounting examination.
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