Post Utme Lead City University 2017 Accounting Question 20

Practice objective / multiple choice question 20 from the 2017 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2017 Accounting Objective / Multiple Choice
Question 20 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following transactions during the year: Purchased raw materials worth ₦100,000 on credit. Sold goods worth ₦150,000 for cash. Purchased machinery worth ₦50,000 on credit. Sold goods worth ₦80,000 on credit. Paid cash of ₦20,000 to a creditor. Prepare the cash book and bank reconciliation statement.

Answer Options

A. ₦30,000
B. ₦40,000
Correct Answer C. ₦50,000
D. ₦60,000
Correct Answer
C
Correct Option:
₦50,000

About This Question

This is Post Utme Lead City University 2017 Accounting Question 20. It is one of the objective questions from the 2017 Post Utme Lead City University Accounting examination.

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