Post Utme Unn 2020 Accounting Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Unn Accounting examination.

Post Utme Unn 2020 Accounting Objective / Multiple Choice
Question 31 POST_UTME_UNN • 2020 • ACCOUNTING • objective

A company has the following single-entry accounting system: Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Common Stock ₦100,000, Dividends ₦5,000, Equipment ₦80,000, Retained Earnings ₦30,000, Sales ₦200,000, Salaries Expense ₦40,000, Utilities Expense ₦10,000. Prepare the ledger accounts.

Answer Options

A. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Common Stock ₦100,000, Dividends ₦5,000, Equipment ₦80,000, Retained Earnings ₦30,000, Sales ₦200,000, Salaries Expense ₦40,000, Utilities Expense ₦10,000
B. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Common Stock ₦100,000, Dividends ₦5,000, Equipment ₦80,000, Retained Earnings ₦30,000, Sales ₦200,000, Salaries Expense ₦40,000, Utilities Expense ₦10,000
C. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Common Stock ₦100,000, Dividends ₦5,000, Equipment ₦80,000, Retained Earnings ₦30,000, Sales ₦200,000, Salaries Expense ₦40,000, Utilities Expense ₦10,000
Correct Answer D. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Common Stock ₦100,000, Dividends ₦5,000, Equipment ₦80,000, Retained Earnings ₦30,000, Sales ₦200,000, Salaries Expense ₦40,000, Utilities Expense ₦10,000
Correct Answer
D
Correct Option:
Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Common Stock ₦100,000, Dividends ₦5,000, Equipment ₦80,000, Retained Earnings ₦30,000, Sales ₦200,000, Salaries Expense ₦40,000, Utilities Expense ₦10,000

About This Question

This is Post Utme Unn 2020 Accounting Question 31. It is one of the objective questions from the 2020 Post Utme Unn Accounting examination.

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