Post Utme Mountain Top University 2023 Accounting Question 29

Practice objective / multiple choice question 29 from the 2023 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2023 Accounting Objective / Multiple Choice
Question 29 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Payable ₦200,000, Sales Revenue ₦500,000, Cost of Goods Sold ₦300,000, and Common Stock ₦100,000. Prepare the company's balance sheet.

Answer Options

A. ₦200,000 in Accounts Payable and ₦300,000 in Sales Revenue
B. ₦500,000 in Sales Revenue and ₦300,000 in Cost of Goods Sold
Correct Answer C. ₦200,000 in Accounts Payable and ₦500,000 in Sales Revenue
D. ₦100,000 in Common Stock and ₦300,000 in Cost of Goods Sold
Correct Answer
C
Correct Option:
₦200,000 in Accounts Payable and ₦500,000 in Sales Revenue

About This Question

This is Post Utme Mountain Top University 2023 Accounting Question 29. It is one of the objective questions from the 2023 Post Utme Mountain Top University Accounting examination.

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