Post Utme Unilorin 2025 Accounting Question 11
Practice objective / multiple choice question 11 from the 2025 Post Utme Unilorin Accounting examination.
A company uses the single-entry system of accounting. The company's assets, liabilities, and equity at the beginning of the year were ₦100,000, ₦50,000, and ₦50,000, respectively. During the year, the company purchased equipment for ₦20,000 and sold goods for ₦30,000. The company's net income for the year was ₦15,000. Prepare the company's statement of financial position at the end of the year.
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About This Question
This is Post Utme Unilorin 2025 Accounting Question 11. It is one of the objective questions from the 2025 Post Utme Unilorin Accounting examination.
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