Question 4
POST_UTME_LAUTECH
•
2022
•
ACCOUNTING
•
objective
A company's balance sheet shows the following balances: Cash ₦50,000, Accounts Payable ₦50,000, Common Stock ₦100,000, and Retained Earnings ₦50,000. Prepare a statement of stockholders' equity.
Answer Options
Correct Answer
A.
{\begin{tabular}{|l|l|} \hline \textbf{Common Stock} & \textbf{₦} \\ \hline \text{Common Stock} & 100,000 \\ \text{Retained Earnings} & 50,000 \\ \text{Total Stockholders' Equity} & 150,000 \\ \hline \end{tabular}}
B.
{\begin{tabular}{|l|l|} \hline \textbf{Retained Earnings} & \textbf{₦} \\ \hline \text{Common Stock} & 100,000 \\ \text{Retained Earnings} & 50,000 \\ \text{Total Stockholders' Equity} & 150,000 \\ \hline \end{tabular}}
C.
{\begin{tabular}{|l|l|} \hline \textbf{Common Stock} & \textbf{₦} \\ \hline \text{Common Stock} & 100,000 \\ \text{Cash} & 50,000 \\ \text{Total Stockholders' Equity} & 150,000 \\ \hline \end{tabular}}
D.
{\begin{tabular}{|l|l|} \hline \textbf{Retained Earnings} & \textbf{₦} \\ \hline \text{Common Stock} & 100,000 \\ \text{Cash} & 50,000 \\ \text{Total Stockholders' Equity} & 150,000 \\ \hline \end{tabular}}
Correct Answer
A
Correct Option:
{\begin{tabular}{|l|l|} \hline \textbf{Common Stock} & \textbf{₦} \\ \hline \text{Common Stock} & 100,000 \\ \text{Retained Earnings} & 50,000 \\ \text{Total Stockholders' Equity} & 150,000 \\ \hline \end{tabular}}
About This Question
This is
Post Utme Lautech
2022
Accounting
Question 4.
It is one of the
objective
questions from the
2022
Post Utme Lautech
Accounting
examination.