Post Utme Veritas University 2022 Accounting Question 33

Practice objective / multiple choice question 33 from the 2022 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2022 Accounting Objective / Multiple Choice
Question 33 POST_UTME_VERITAS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following transactions during the year ended December 31, 2022: Purchased office equipment for ₦200,000; Sold office equipment for ₦150,000; Purchased office supplies for ₦30,000; Sold office supplies for ₦20,000. Prepare the statement of stockholders' equity for the above transactions.

Answer Options

Correct Answer A. Common Stock ₦1,000,000, Retained Earnings ₦500,000
B. Common Stock ₦500,000, Retained Earnings ₦1,000,000
C. Common Stock ₦1,000,000, Retained Earnings ₦0
D. Common Stock ₦500,000, Retained Earnings ₦0
Correct Answer
A
Correct Option:
Common Stock ₦1,000,000, Retained Earnings ₦500,000

About This Question

This is Post Utme Veritas University 2022 Accounting Question 33. It is one of the objective questions from the 2022 Post Utme Veritas University Accounting examination.

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