Post Utme Summit University 2022 Accounting Question 23
Practice objective / multiple choice question 23 from the 2022 Post Utme Summit University Accounting examination.
A company has the following accounts: Accounts Payable: ₦120,000, Accounts Receivable: ₦150,000, Common Stock: ₦500,000, Dividends: ₦20,000, Equipment: ₦200,000, Expenses: ₦100,000, Income Tax Expense: ₦30,000, Interest Expense: ₦10,000, Net Income: ₦150,000, Retained Earnings: ₦250,000, Salaries Expense: ₦80,000, Sales Revenue: ₦1,200,000, Utilities Expense: ₦20,000. What is the total amount of equity?
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About This Question
This is Post Utme Summit University 2022 Accounting Question 23. It is one of the objective questions from the 2022 Post Utme Summit University Accounting examination.
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