Post Utme Rsu 2020 Accounting Question 29

Practice objective / multiple choice question 29 from the 2020 Post Utme Rsu Accounting examination.

Post Utme Rsu 2020 Accounting Objective / Multiple Choice

Question 29 POST_UTME_RSU • 2020 • ACCOUNTING • objective

A company has the following transactions: Purchase of equipment for ₦50,000, Sale of goods for ₦100,000, and Salaries ₦20,000. Prepare the balance sheet.

A. Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦100,000, Retained Earnings ₦30,000

B. Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦100,000, Retained Earnings ₦30,000

C. Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦100,000, Retained Earnings ₦30,000

Correct Answer D. Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦100,000, Retained Earnings ₦30,000

Correct Answer

Correct Option:

Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦100,000, Retained Earnings ₦30,000

This is Post Utme Rsu 2020 Accounting Question 29. It is one of the objective questions from the 2020 Post Utme Rsu Accounting examination.

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