Post Utme Uniosun 2024 Accounting Question 40

Practice objective / multiple choice question 40 from the 2024 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2024 Accounting Objective / Multiple Choice
Question 40 POST_UTME_UNIOSUN • 2024 • ACCOUNTING • objective

A company's trial balance as of December 31, 2023, showed the following balances: Accounts Receivable 50,000; Accounts Payable 20,000; Common Stock 100,000; Retained Earnings 50,000. Prepare the company's balance sheet as of December 31, 2023.

Answer Options

Correct Answer A. Assets: 120,000; Liabilities: 20,000; Equity: 100,000
B. Assets: 120,000; Liabilities: 100,000; Equity: 20,000
C. Assets: 100,000; Liabilities: 20,000; Equity: 80,000
D. Assets: 80,000; Liabilities: 20,000; Equity: 60,000
Correct Answer
A
Correct Option:
Assets: 120,000; Liabilities: 20,000; Equity: 100,000

About This Question

This is Post Utme Uniosun 2024 Accounting Question 40. It is one of the objective questions from the 2024 Post Utme Uniosun Accounting examination.

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