et sales OMR 175000Cost of the goods sold OMR 135000DetailsDebitCreditSalary15000 Rent8500 Drawings3500 Building10000 General expenses2300 Rent 2500Cash4500 Repairs750 Capital 1500Insurance3500 Dividend 1600Interest 1200 From the above information, Calculate net profit/loss. Select one:a. Net Loss 1250b. Net Loss 24350c. Net Profit 15250d. None of the optionse. Net Profit 12850

Net profit or loss of the business can be calculated by preparing Income statement which shows…

Answered: et sales OMR 175000 Cost of the goods…

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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et sales OMR 175000

Cost of the goods sold OMR 135000

Details	Debit	Credit
Salary	15000
Rent	8500
Drawings	3500
Building	10000
General expenses	2300
Rent		2500
Cash	4500
Repairs	750
Capital		1500
Insurance	3500
Dividend		1600
Interest		1200

From the above information, Calculate net profit/loss.

Select one:

a. Net Loss 1250

b. Net Loss 24350

c. Net Profit 15250

d. None of the options

e. Net Profit 12850

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