Post Utme Lasu 2022 Accounting Question 14

Practice objective / multiple choice question 14 from the 2022 Post Utme Lasu Accounting examination.

Post Utme Lasu 2022 Accounting Objective / Multiple Choice
Question 14 POST_UTME_LASU • 2022 • ACCOUNTING • objective

A company has the following ledger balances: Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦150,000, Retained Earnings ₦30,000. Prepare a balance sheet.

Answer Options

Correct Answer A. Assets ₦220,000, Liabilities ₦20,000, Equity ₦200,000
B. Assets ₦220,000, Liabilities ₦30,000, Equity ₦190,000
C. Assets ₦220,000, Liabilities ₦40,000, Equity ₦180,000
D. Assets ₦220,000, Liabilities ₦50,000, Equity ₦170,000
Correct Answer
A
Correct Option:
Assets ₦220,000, Liabilities ₦20,000, Equity ₦200,000

About This Question

This is Post Utme Lasu 2022 Accounting Question 14. It is one of the objective questions from the 2022 Post Utme Lasu Accounting examination.

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