Post Utme Skyline University 2017 Accounting Question 32

Practice objective / multiple choice question 32 from the 2017 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2017 Accounting Objective / Multiple Choice
Question 32 POST_UTME_SKYLINE_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Receivable 10,000, Accounts Payable 5,000, Common Stock 20,000, Retained Earnings 15,000. Prepare the company's balance sheet.

Answer Options

Correct Answer A. Assets: 35,000, Liabilities: 5,000, Equity: 30,000
B. Assets: 30,000, Liabilities: 20,000, Equity: 10,000
C. Assets: 25,000, Liabilities: 15,000, Equity: 10,000
D. Assets: 40,000, Liabilities: 10,000, Equity: 30,000
Correct Answer
A
Correct Option:
Assets: 35,000, Liabilities: 5,000, Equity: 30,000

About This Question

This is Post Utme Skyline University 2017 Accounting Question 32. It is one of the objective questions from the 2017 Post Utme Skyline University Accounting examination.

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