Post Utme Mountain Top University 2017 Accounting Question 34

Practice objective / multiple choice question 34 from the 2017 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2017 Accounting Objective / Multiple Choice
Question 34 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following trial balance as at December 31, 2022: Cash ¡ 1,000,000, Accounts Receivable ¡ 500,000, Inventory ¡ 1,500,000, Prepaid Rent ¡ 200,000, and Accumulated Depreciation ¡ 300,000. Prepare the company's balance sheet as at December 31, 2022.

Answer Options

Correct Answer A. Assets ¡ 4,100,000, Liabilities ¡ 0, Equity ¡ 4,100,000
B. Assets ¡ 4,200,000, Liabilities ¡ 0, Equity ¡ 4,200,000
C. Assets ¡ 4,100,000, Liabilities ¡ 0, Equity ¡ 4,200,000
D. Assets ¡ 4,200,000, Liabilities ¡ 0, Equity ¡ 4,100,000
Correct Answer
A
Correct Option:
Assets ¡ 4,100,000, Liabilities ¡ 0, Equity ¡ 4,100,000

About This Question

This is Post Utme Mountain Top University 2017 Accounting Question 34. It is one of the objective questions from the 2017 Post Utme Mountain Top University Accounting examination.

View More Post Utme Mountain Top University 2017 Accounting Questions More Post Utme Mountain Top University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support