Post Utme Ui 2018 Accounting Question 32

Practice objective / multiple choice question 32 from the 2018 Post Utme Ui Accounting examination.

Post Utme Ui 2018 Accounting Objective / Multiple Choice
Question 32 POST_UTME_UI • 2018 • ACCOUNTING • objective

A company has the following ledger balances: Cash: ₦50,000, Accounts Payable: ₦30,000, Common Stock: ₦100,000, and Retained Earnings: ₦20,000. Prepare the balance sheet.

Answer Options

Correct Answer A. Cash: ₦50,000, Accounts Payable: ₦30,000, Common Stock: ₦100,000, Retained Earnings: ₦20,000
B. Cash: ₦50,000, Accounts Payable: ₦0, Common Stock: ₦100,000, Retained Earnings: ₦20,000
C. Cash: ₦0, Accounts Payable: ₦30,000, Common Stock: ₦100,000, Retained Earnings: ₦20,000
D. Cash: ₦50,000, Accounts Payable: ₦30,000, Common Stock: ₦0, Retained Earnings: ₦20,000
Correct Answer
A
Correct Option:
Cash: ₦50,000, Accounts Payable: ₦30,000, Common Stock: ₦100,000, Retained Earnings: ₦20,000

About This Question

This is Post Utme Ui 2018 Accounting Question 32. It is one of the objective questions from the 2018 Post Utme Ui Accounting examination.

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