Post Utme Noun 2023 Accounting Question 8

Practice objective / multiple choice question 8 from the 2023 Post Utme Noun Accounting examination.

Post Utme Noun 2023 Accounting Objective / Multiple Choice
Question 8 POST_UTME_NOUN • 2023 • ACCOUNTING • objective

A company's balance sheet showed a capital of ₦100,000 and a profit and loss account of ₦50,000. Prepare the necessary ledger accounts to show the correct position of the company's capital and profit and loss account.

Answer Options

Correct Answer A. Capital Account: ₦100,000, Profit and Loss Account: ₦50,000
B. Capital Account: ₦150,000, Profit and Loss Account: ₦50,000
C. Capital Account: ₦100,000, Profit and Loss Account: ₦100,000
D. Capital Account: ₦50,000, Profit and Loss Account: ₦150,000
Correct Answer
A
Correct Option:
Capital Account: ₦100,000, Profit and Loss Account: ₦50,000

About This Question

This is Post Utme Noun 2023 Accounting Question 8. It is one of the objective questions from the 2023 Post Utme Noun Accounting examination.

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