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according to information: Question     Liabilities OMR Assets OMR Equity share capital 27,800 Furniture 4,000 Accounts Payable 1,550 Cash in hand 4,500 Reserves and surplus 2,550 Bills receivables 3,750 Bills payable 950 Land 9,000 Long term borrowings 6,520 Marketable securities 850 Outstanding Salaries 850 Cash in bank 5,250 Loan from Bank 3,450 Building 6,600 Preference share capital 5,265 Prepaid expenses 850 Bank overdraft 825 Cars & Trucks 3,350 Tax outstanding 590 Account Receivables 1,150     Inventory 2,150     Income earned but not received 430     Machinery 6,250     Equipment 2,220 Total 50,350 Total 50,350   Other information Particulars OMR Sales 330,000 Cost of goods sold 155,000 Administration expenses 33,000 Selling & Distribution exp. 44,000 Interest received 12,200 Rent Received 2,000 Commission received 1,750   Calculate Shareholders' funds

according to information: Question     Liabilities OMR Assets OMR Equity share capital 27,800 Furniture 4,000 Accounts Payable 1,550 Cash in hand 4,500 Reserves and surplus 2,550 Bills receivables 3,750 Bills payable 950 Land 9,000 Long term borrowings 6,520 Marketable securities 850 Outstanding Salaries 850 Cash in bank 5,250 Loan from Bank 3,450 Building 6,600 Preference share capital 5,265 Prepaid expenses 850 Bank overdraft 825 Cars & Trucks 3,350 Tax outstanding 590 Account Receivables 1,150     Inventory 2,150     Income earned but not received 430     Machinery 6,250     Equipment 2,220 Total 50,350 Total 50,350   Other information Particulars OMR Sales 330,000 Cost of goods sold 155,000 Administration expenses 33,000 Selling & Distribution exp. 44,000 Interest received 12,200 Rent Received 2,000 Commission received 1,750   Calculate Shareholders' funds

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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according to information:

Question

 

 

Liabilities

OMR

Assets

OMR

Equity share capital

27,800

Furniture

4,000

Accounts Payable

1,550

Cash in hand

4,500

Reserves and surplus

2,550

Bills receivables

3,750

Bills payable

950

Land

9,000

Long term borrowings

6,520

Marketable securities

850

Outstanding Salaries

850

Cash in bank

5,250

Loan from Bank

3,450

Building

6,600

Preference share capital

5,265

Prepaid expenses

850

Bank overdraft

825

Cars & Trucks

3,350

Tax outstanding

590

Account Receivables

1,150

 

 

Inventory

2,150

 

 

Income earned but not received

430

 

 

Machinery

6,250

 

 

Equipment

2,220

Total

50,350

Total

50,350

 

Other information

Particulars

OMR

Sales

330,000

Cost of goods sold

155,000

Administration expenses

33,000

Selling & Distribution exp.

44,000

Interest received

12,200

Rent Received

2,000

Commission received

1,750

 

Calculate

  • Shareholders' funds
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