Post Utme Lautech 2023 Accounting Question 27

Practice objective / multiple choice question 27 from the 2023 Post Utme Lautech Accounting examination.

Post Utme Lautech 2023 Accounting Objective / Multiple Choice
Question 27 POST_UTME_LAUTECH • 2023 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Payable ₦50,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, and Common Stock ₦100,000. Prepare the company's balance sheet.

Answer Options

Correct Answer A. Assets ₦250,000, Liabilities ₦50,000, Equity ₦200,000
B. Assets ₦200,000, Liabilities ₦150,000, Equity ₦50,000
C. Assets ₦150,000, Liabilities ₦200,000, Equity ₦50,000
D. Assets ₦50,000, Liabilities ₦200,000, Equity ₦150,000
Correct Answer
A
Correct Option:
Assets ₦250,000, Liabilities ₦50,000, Equity ₦200,000

About This Question

This is Post Utme Lautech 2023 Accounting Question 27. It is one of the objective questions from the 2023 Post Utme Lautech Accounting examination.

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