From the following, find out the amount of subscriptions to be Income and Expenditure Account for the year 2016. Subscriptions received in 2016 - OMR. 48,000, OMR. 40,000 for 2015 and OMR. 80,000 for 2017. Subscriptions outstanding in the year of 2017 were OMR. 20,000. Subscriptions outstanding in 2015 were OMR. 12,000. Select one: a. OMR 16,000 b. OMR 40,000 c. OMR 56.000 d. MR 32,000 O O O O

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

From the following, find out the amount of subscriptions to be Income and Expenditure Account for the year 2016. Subscriptions received in 2016 - OMR. 48,000, OMR. 40,000 for 2015 and OMR. 80,000 for 2017. Subscriptions outstanding in the year of 2017 were OMR. 20,000. Subscriptions outstanding in 2015 were OMR. 12,000.

Select one: a. OMR 16,000 b. OMR 40,000 c. OMR 56.000 d. MR 32,000 O O O O

Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Attestation engagements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education