Post Utme Skyline University 2017 Accounting Question 34

Practice objective / multiple choice question 34 from the 2017 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2017 Accounting Objective / Multiple Choice
Question 34 POST_UTME_SKYLINE_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Receivable 15,000, Accounts Payable 10,000, Common Stock 30,000, Retained Earnings 20,000. Prepare the company's balance sheet.

Answer Options

Correct Answer A. Assets: 55,000, Liabilities: 10,000, Equity: 45,000
B. Assets: 45,000, Liabilities: 20,000, Equity: 25,000
C. Assets: 40,000, Liabilities: 15,000, Equity: 25,000
D. Assets: 50,000, Liabilities: 15,000, Equity: 35,000
Correct Answer
A
Correct Option:
Assets: 55,000, Liabilities: 10,000, Equity: 45,000

About This Question

This is Post Utme Skyline University 2017 Accounting Question 34. It is one of the objective questions from the 2017 Post Utme Skyline University Accounting examination.

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