Post Utme Madonna University 2022 Accounting Question 37
Practice objective / multiple choice question 37 from the 2022 Post Utme Madonna University Accounting examination.
A company's trial balance as at 31st December, 2022 is as follows: Assets: Cash ₦50,000 Accounts Receivable ₦100,000 Inventory ₦150,000 Total Assets ₦300,000 Liabilities: Accounts Payable ₦50,000 Long-term Debt ₦150,000 Total Liabilities ₦200,000 Equity: Common Stock ₦50,000 Retained Earnings ₦50,000 Total Equity ₦100,000 What is the company's net income for the year?
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About This Question
This is Post Utme Madonna University 2022 Accounting Question 37. It is one of the objective questions from the 2022 Post Utme Madonna University Accounting examination.
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