z/attempt.php?attempt278998&cmid-142434Shahaden) -Question 4From the following information, calculate Net Profit.Not yetDetailsDebit (RO)Credit (RO)answeredMarked out of 2Salary6500P Flag questionRent14200Interest Payable750Stationery870IInsurance1850Dividend900Net sales207000Cost of the goods sold165000Additional information: Closing Stock OR 8700Select one:O a. RO 19480O b. RO 10030O c. RO 10780O d. RO 20230hp

Given, Net sales = RO207000 Cost of goods sold = RO165000 Closing stock = RO8700 Gross profit = Net…

From the following information, calculate Net Profit. Details Debit (RO) Credit (RO) Salary 6500 Rent 14200 Interest Payable 750 Stationery 870 Insurance 1850 Dividend 900 Net sales 207000 Cost of the goods sold 165000 Additional information: Closing Stock OR 8700 Select one: O a. RO 19480 O b. RO 10030 O c. RO 10780 O d. RO 20230

From the following information, calculate Net Profit. Details Debit (RO) Credit (RO) Salary 6500 Rent 14200 Interest Payable 750 Stationery 870 Insurance 1850 Dividend 900 Net sales 207000 Cost of the goods sold 165000 Additional information: Closing Stock OR 8700 Select one: O a. RO 19480 O b. RO 10030 O c. RO 10780 O d. RO 20230

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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Details Debit Credit General expenses 11700 cash 5100 Salaries 9300 rent 1560 Account Payable 3575 Other income 2500 Net sales 150060 Cost of goods sold 99700 calculate net profit Select one: a.RO 34775 b. RO 30300 c. correct answer not available d.RO 31200 e.RO 39815
The business made a sale of OMR 21000 ( cost was OR 18000), on credit basis. The effect on Account Receivable will be : Select one: a. Account Receivable will decrease by OMR 18000 b. Account Receivable will increase by OMR 21000 c. Account Receivable will decrease by OMR 21000 d. Account Receivable will increase by OMR 18000
Make a transaction for each of the following general journal. Bank 10000 Cash 10000 Account Payable 50000 Motor Vehicle 50000 Account Payable 30000 Purchase Return 30000 Cash 25000 Sales Discount 10000 Sales 35000 Account Payable 45000 Purchase Discount 9000 Cash 36000
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Using the following information, what is the amount of net income? Purchases $ 25,599 Selling expenses $ 838 Merchandise inventory, September 1 6,382 Merchandise inventory, September 30 11,356 Administrative expenses 765 Sales 47,294 Rent revenue 908 Interest expense 1,144 O a. $27,118 Ob. $24,830 Oc. S18,448 Od. S36,186
The business made a sale of OMR 21000 ( | cost was OR 18000), on credit basis. The effect on Account Receivable will be : Select one: O a. Account Receivable will decrease by OMR 21000 O b. Account Receivable will increase by OMR 18000 O c. Account Receivable will increase by OMR 21000 O d. Account Receivable will decrease by OMR 18000
9) Complete the table. Terms Last Date Last Date Date Paid Net Price to Pay Invoice Invoice Date Cash Discount Cash Price to Take Discount 3-Sept. 5/15, n/30 23-Sept. $348.64
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9 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 610 RETURNS ON SALES 1.000 191 DEDUCTIBLE VAT 180 100 CASE 1180 Which process does the registration belong to?A) The customer returns the goods he receivedB) The seller returns the goodsC) Discounting to the customerD) The business returns the goods it has receivedE) Discounting on goods sold
wner contributed computer costing RO. 9000, inventory worth OR 8000 and in cash OR 32000 . What is his Capital ? Select one: a. OR 49000 b. OR 8000 c. OR 32000 d. OR 39000 Rent revenue received OMR 3500 by cheque . The correct entry--- Select one: a. CASH A/C DR RENT A/C CR b. BANK A/C DR RENT A/C CR c. RENT A/C DR CASH A/C CR d. RENT A/C DR BANK A/C CR If a business has purchased goods for OMR 50000 and 25%was on account . Find out value of account payable? Select one: a. OMR 12500 b. OMR 50000 c. OMR 37500 d. OMR 32500
Q2. Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit from the following information Gross sales RO 53400 Purchase Discount RO 1675 Bank charges RO1654 Closing stock RO 11870 Cash RO 3200 Other Income RO 765 Owners Equity RO 76000 Building RO 32000 Depreciation RO 1230 Salaries RO 3450 Electricity RO 780 Sales Discount RO 6230 Freight in RO 1450 Sales returns is RO 4350 Opening stock is RO 7680 Purchases RO 16550 Machinery RO 21000 Purchase return RO 1240