Post Utme Wellspring University 2024 Accounting Question 9

Practice objective / multiple choice question 9 from the 2024 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2024 Accounting Objective / Multiple Choice
Question 9 POST_UTME_WELLSPRING_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's balance sheet showed the following balances: Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦100,000, and Retained Earnings ₦30,000. Prepare a statement of stockholders' equity for the company.

Answer Options

Correct Answer A. Common Stock ₦100,000, Retained Earnings ₦30,000, Total Equity ₦130,000
B. Common Stock ₦50,000, Retained Earnings ₦100,000, Total Equity ₦150,000
C. Common Stock ₦100,000, Retained Earnings ₦50,000, Total Equity ₦150,000
D. Common Stock ₦50,000, Retained Earnings ₦30,000, Total Equity ₦80,000
Correct Answer
A
Correct Option:
Common Stock ₦100,000, Retained Earnings ₦30,000, Total Equity ₦130,000

About This Question

This is Post Utme Wellspring University 2024 Accounting Question 9. It is one of the objective questions from the 2024 Post Utme Wellspring University Accounting examination.

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