Post Utme Ims U 2017 Accounting Question 32

Practice objective / multiple choice question 32 from the 2017 Post Utme Ims U Accounting examination.

Post Utme Ims U 2017 Accounting Objective / Multiple Choice
Question 32 POST_UTME_IMS_U • 2017 • ACCOUNTING • objective

A company's trial balance as of December 31, 2022, is as follows: Debit Cash: ₦100,000 Accounts Payable: ₦50,000 Credit Accounts Receivable: ₦80,000 Sales Revenue: ₦200,000 Prepare the company's balance sheet as of December 31, 2022.

Answer Options

Correct Answer A. Assets: ₦230,000, Liabilities: ₦50,000, Equity: ₦180,000
B. Assets: ₦280,000, Liabilities: ₦50,000, Equity: ₦230,000
C. Assets: ₦230,000, Liabilities: ₦80,000, Equity: ₦150,000
D. Assets: ₦280,000, Liabilities: ₦80,000, Equity: ₦200,000
Correct Answer
A
Correct Option:
Assets: ₦230,000, Liabilities: ₦50,000, Equity: ₦180,000

About This Question

This is Post Utme Ims U 2017 Accounting Question 32. It is one of the objective questions from the 2017 Post Utme Ims U Accounting examination.

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