After the accounts have been adjusted at March 31, the end of the fiscal year, the following balances were take the ledger of Zuhoor Muscat Company: Share capital: RO 1,500,000; Dividends: RO 112,000; Sales Revenue: R 550,000; Salaries Expense: RO 276,105; Rent Expense: RO 53,580; Supplies Expense: RO 28,600; Miscellaneor Expense RO 3,963. After closing off all the revenue and expense accounts, the Income Summary account will sh balance of: a. None of the options are correct O b. RO 148,842 O c. RO 199,052 O d. RO 187,752 Oe. RO (149,208)

After the accounts have been adjusted at March 31, the end of the fiscal year, the following balances were take the ledger of Zuhoor Muscat Company: Share capital: RO 1,500,000; Dividends: RO 112,000; Sales Revenue: R 550,000; Salaries Expense: RO 276,105; Rent Expense: RO 53,580; Supplies Expense: RO 28,600; Miscellaneor Expense RO 3,963. After closing off all the revenue and expense accounts, the Income Summary account will sh balance of: a. None of the options are correct O b. RO 148,842 O c. RO 199,052 O d. RO 187,752 Oe. RO (149,208)

Name: After the accounts have been adjusted at March 31, the end of the fis
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Description: After the accounts have been adjusted at March 31, the end of the fiscal year, the following balances were taken fromthe ledger of Zuhoor Muscat Company: Share capital: RO 1,500,000; Dividends: RO 112,000; Sales Revenue: RO550,000; Salaries Expense:

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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