Post Utme Lead City University 2017 Accounting Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2017 Accounting Objective / Multiple Choice
Question 5 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following ledger balances: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦5,000 | | Accounts Payable | ₦20,000 | ₦15,000 | | Sales | ₦30,000 | ₦25,000 | | Cost of Goods Sold | ₦40,000 | ₦35,000 | | Net Income | ₦50,000 | ₦45,000 | Prepare a trial balance.

Answer Options

A. | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦5,000 | | Accounts Payable | ₦20,000 | ₦15,000 | | Sales | ₦30,000 | ₦25,000 | | Cost of Goods Sold | ₦40,000 | ₦35,000 | | Net Income | ₦50,000 | ₦45,000 |
B. | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦5,000 | | Accounts Payable | ₦20,000 | ₦15,000 | | Sales | ₦30,000 | ₦25,000 | | Cost of Goods Sold | ₦40,000 | ₦35,000 | | Net Income | ₦45,000 | ₦50,000 |
C. | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦5,000 | | Accounts Payable | ₦20,000 | ₦15,000 | | Sales | ₦30,000 | ₦25,000 | | Cost of Goods Sold | ₦40,000 | ₦35,000 | | Net Income | ₦50,000 | ₦45,000 |
D. | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦5,000 | | Accounts Payable | ₦20,000 | ₦15,000 | | Sales | ₦30,000 | ₦25,000 | | Cost of Goods Sold | ₦40,000 | ₦35,000 | | Net Income | ₦45,000 | ₦50,000 |
Correct Answer
N/A

About This Question

This is Post Utme Lead City University 2017 Accounting Question 5. It is one of the objective questions from the 2017 Post Utme Lead City University Accounting examination.

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