Post Utme Noun 2017 Accounting Question 24
Practice objective / multiple choice question 24 from the 2017 Post Utme Noun Accounting examination.
A company's trading account for the year ended 31st December 2022 shows a profit of ₦1,500,000. The balance on the profit and loss account at the beginning of the year was ₦500,000. The company's balance sheet at the beginning of the year showed a capital of ₦5,000,000 and a profit and loss account balance of ₦500,000. The company's balance sheet at the end of the year shows a capital of ₦6,500,000 and a profit and loss account balance of ₦2,000,000. Calculate the company's profit for the year ended 31st December 2022.
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About This Question
This is Post Utme Noun 2017 Accounting Question 24. It is one of the objective questions from the 2017 Post Utme Noun Accounting examination.
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