Post Utme Summit University 2024 Accounting Question 31
Practice objective / multiple choice question 31 from the 2024 Post Utme Summit University Accounting examination.
A company has the following balances in its trial balance as at 31st December 2023: 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 statement of retained earnings as at 31st December 2023.
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This is Post Utme Summit University 2024 Accounting Question 31. It is one of the objective questions from the 2024 Post Utme Summit University Accounting examination.
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