Post Utme Igbinedion University 2025 Accounting Question 25
Practice objective / multiple choice question 25 from the 2025 Post Utme Igbinedion University Accounting examination.
A company uses the single-entry system of accounting. The company's assets, liabilities, and equity at the beginning of the year were ₦1,500,000, ₦800,000, and ₦700,000, respectively. During the year, the company purchased equipment for ₦250,000 and sold goods for ₦300,000. The company's net income for the year was ₦150,000. Prepare the company's statement of financial position at the end of the year.
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About This Question
This is Post Utme Igbinedion University 2025 Accounting Question 25. It is one of the objective questions from the 2025 Post Utme Igbinedion University Accounting examination.
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