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From the following extract of income statement for the year ended 31-12-2017 of Al- Ata Bakery LLC is as follows: The Gross profit as per HCA & CPP( already given) is OMR 300,000 and OMR 333,333. The Interest on debentures is OMR 4,000; Depreciation of Plant & machinery is OMR 10,000. The opening price index is 100; closing index is 200 and Average index is 150. You are required to compute only the net profit or net loss for the year ended 31-12-2017, after adjusting for price level changes only under CPP method. a. Net Profit OMR 315,000 b. Net Loss OMR 315,000 c. None of these options d. Net Profit OMR 286,000

From the following extract of income statement for the year ended 31-12-2017 of Al- Ata Bakery LLC is as follows: The Gross profit as per HCA & CPP( already given) is OMR 300,000 and OMR 333,333. The Interest on debentures is OMR 4,000; Depreciation of Plant & machinery is OMR 10,000. The opening price index is 100; closing index is 200 and Average index is 150. You are required to compute only the net profit or net loss for the year ended 31-12-2017, after adjusting for price level changes only under CPP method. a. Net Profit OMR 315,000 b. Net Loss OMR 315,000 c. None of these options d. Net Profit OMR 286,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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From the following extract of income statement for the year ended 31-12-2017 of Al- Ata Bakery LLC is as follows: The Gross profit as per HCA & CPP( already given) is OMR 300,000 and OMR 333,333. The Interest on debentures is OMR 4,000; Depreciation of Plant & machinery is OMR 10,000. The opening price index is 100; closing index is 200 and Average index is 150. You are required to compute only the net profit or net loss for the year ended 31-12-2017, after adjusting for price level changes only under CPP method.
a.
Net Profit OMR 315,000
b.
Net Loss OMR 315,000
c.
None of these options
d.
Net Profit OMR 286,000
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