Post Utme Noun 2019 Accounting Question 22

Practice objective / multiple choice question 22 from the 2019 Post Utme Noun Accounting examination.

Post Utme Noun 2019 Accounting Objective / Multiple Choice
Question 22 POST_UTME_NOUN • 2019 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Payable ₦150,000, Sales Revenue ₦500,000, Cost of Goods Sold ₦300,000, and Common Stock ₦200,000. Prepare the company's balance sheet.

Answer Options

A. Assets ₦1,250,000, Liabilities ₦150,000, Equity ₦1,100,000
Correct Answer B. Assets ₦1,500,000, Liabilities ₦150,000, Equity ₦1,350,000
C. Assets ₦1,200,000, Liabilities ₦150,000, Equity ₦1,050,000
D. Assets ₦1,000,000, Liabilities ₦150,000, Equity ₦850,000
Correct Answer
B
Correct Option:
Assets ₦1,500,000, Liabilities ₦150,000, Equity ₦1,350,000

About This Question

This is Post Utme Noun 2019 Accounting Question 22. It is one of the objective questions from the 2019 Post Utme Noun Accounting examination.

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