Post Utme Summit University 2024 Accounting Question 28
Practice objective / multiple choice question 28 from the 2024 Post Utme Summit University Accounting examination.
A company uses the single-entry system of accounting. The company's trial balance as at 31st December 2023 shows the following balances: Accounts Payable ₦150,000, Accounts Receivable ₦120,000, Common Stock ₦500,000, Dividends ₦20,000, Equipment ₦300,000, Interest Expense ₦15,000, Interest Income ₦25,000, Net Income ₦150,000, Retained Earnings ₦250,000, Salaries Expense ₦80,000, Sales Revenue ₦600,000, Taxes Payable ₦30,000, and Utilities Expense ₦20,000. Prepare a balance sheet as at 31st December 2023.
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About This Question
This is Post Utme Summit University 2024 Accounting Question 28. It is one of the objective questions from the 2024 Post Utme Summit University Accounting examination.
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