Post Utme Noun 2018 Accounting Question 32

Practice objective / multiple choice question 32 from the 2018 Post Utme Noun Accounting examination.

Post Utme Noun 2018 Accounting Objective / Multiple Choice
Question 32 POST_UTME_NOUN • 2018 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger has the following accounts: Cash, Accounts Receivable, Accounts Payable, and Common Stock. The company's trial balance shows the following balances: Cash ₦50,000, Accounts Receivable ₦20,000, Accounts Payable ₦15,000, and Common Stock ₦100,000. Prepare a balance sheet for the company.

Answer Options

Correct Answer A. Cash ₦50,000, Accounts Receivable ₦20,000, Accounts Payable ₦15,000, Common Stock ₦100,000
B. Cash ₦50,000, Accounts Receivable ₦20,000, Accounts Payable ₦15,000, Common Stock ₦120,000
C. Cash ₦50,000, Accounts Receivable ₦20,000, Accounts Payable ₦15,000, Common Stock ₦80,000
D. Cash ₦50,000, Accounts Receivable ₦20,000, Accounts Payable ₦15,000, Common Stock ₦90,000
Correct Answer
A
Correct Option:
Cash ₦50,000, Accounts Receivable ₦20,000, Accounts Payable ₦15,000, Common Stock ₦100,000

About This Question

This is Post Utme Noun 2018 Accounting Question 32. It is one of the objective questions from the 2018 Post Utme Noun Accounting examination.

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