Post Utme Noun 2023 Accounting Question 31

Practice objective / multiple choice question 31 from the 2023 Post Utme Noun Accounting examination.

Post Utme Noun 2023 Accounting Objective / Multiple Choice
Question 31 POST_UTME_NOUN • 2023 • ACCOUNTING • objective

A company has the following trial balance as at December 31, 2022: Accounts Receivable 10,000, Accounts Payable 5,000, Common Stock 50,000, Retained Earnings 20,000. Prepare the balance sheet as at December 31, 2022.

Answer Options

Correct Answer A. Assets: 80,000, Liabilities: 5,000, Equity: 75,000
B. Assets: 70,000, Liabilities: 5,000, Equity: 65,000
C. Assets: 80,000, Liabilities: 5,000, Equity: 75,000
D. Assets: 70,000, Liabilities: 5,000, Equity: 65,000
Correct Answer
A
Correct Option:
Assets: 80,000, Liabilities: 5,000, Equity: 75,000

About This Question

This is Post Utme Noun 2023 Accounting Question 31. It is one of the objective questions from the 2023 Post Utme Noun Accounting examination.

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