Post Utme Summit University 2024 Accounting Question 4

Practice objective / multiple choice question 4 from the 2024 Post Utme Summit University Accounting examination.

Post Utme Summit University 2024 Accounting Objective / Multiple Choice

Question 4 POST_UTME_SUMMIT_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Common Stock ₦100,000, Retained Earnings ₦30,000, and Dividends ₦10,000. Prepare a balance sheet for the company.

Answer Options

A. {\begin{tabular}{|l|r|} Accounts Payable & ₦50,000 \\ Accounts Receivable & ₦20,000 \\ Common Stock & ₦100,000 \\ Retained Earnings & ₦30,000 \\ Dividends & ₦10,000 \\ Total & ₦210,000 \\ \end{tabular}}

B. {\begin{tabular}{|l|r|} Accounts Payable & ₦50,000 \\ Accounts Receivable & ₦20,000 \\ Common Stock & ₦100,000 \\ Retained Earnings & ₦30,000 \\ Dividends & ₦10,000 \\ Total & ₦210,000 \\ \end{tabular}}

C. {\begin{tabular}{|l|r|} Accounts Payable & ₦50,000 \\ Accounts Receivable & ₦20,000 \\ Common Stock & ₦100,000 \\ Retained Earnings & ₦30,000 \\ Dividends & ₦10,000 \\ Total & ₦210,000 \\ \end{tabular}}

D. {\begin{tabular}{|l|r|} Accounts Payable & ₦50,000 \\ Accounts Receivable & ₦20,000 \\ Common Stock & ₦100,000 \\ Retained Earnings & ₦30,000 \\ Dividends & ₦10,000 \\ Total & ₦210,000 \\ \end{tabular}}

Correct Answer

N/A

About This Question

This is Post Utme Summit University 2024 Accounting Question 4. It is one of the objective questions from the 2024 Post Utme Summit University Accounting examination.

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