Post Utme Madonna University 2017 Accounting Question 35

Practice objective / multiple choice question 35 from the 2017 Post Utme Madonna University Accounting examination.

Post Utme Madonna University 2017 Accounting Objective / Multiple Choice
Question 35 POST_UTME_MADONNA_UNIVERSITY • 2017 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's trial balance as at 31st December, 2017, shows the following balances: Cash ₦ 50,000, Accounts Payable ₦ 30,000, Common Stock ₦ 100,000, Retained Earnings ₦ 20,000, and Dividends ₦ 10,000. Prepare the company's balance sheet as at 31st December, 2017.

Answer Options

A. ₦ 50,000
B. ₦ 100,000
Correct Answer C. ₦ 150,000
D. ₦ 200,000
Correct Answer
C
Correct Option:
₦ 150,000

About This Question

This is Post Utme Madonna University 2017 Accounting Question 35. It is one of the objective questions from the 2017 Post Utme Madonna University Accounting examination.

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