Khalld Compony sold goods on January t, for OMR25,000, with credit terrms ol 3/10, n/30. How much should the seller expect to receive if the buyer pays on Jonuary B8? Oa. OMR 24,005 Ob. OMR 22,450 OC OMR 24,502 O d. OMR 24,250 Omantel company has the following: Particulars Unit Unit Cost (OMR) nventory, Jan. 1 8,000 11 Purchases, June 19 13,000 12 Purchases, Nov. B 5,000 13 If 9,000 units are on hand at Docember 31. Compute the cost of the ending inventory under FIFO. Use periodic inventory system O a OMR 90,000 O b. OMR 113,00 OC. OMR 117,000 Od OMR 108,000 An item or tionsortion will qualify for elossification as o cash equivalent O a ifit hos a fixed maturity date less than twelve months O bif iea tirm to makeit no greater than twelve manths O c.if it hos remdining terrm of more than three months but no more than Rix menths O di only if it has a maruary of less than three months

Khalld Compony sold goods on January t, for OMR25,000, with credit terrms ol 3/10, n/30. How much should the seller expect to receive if the buyer pays on Jonuary B8? Oa. OMR 24,005 Ob. OMR 22,450 OC OMR 24,502 O d. OMR 24,250 Omantel company has the following: Particulars Unit Unit Cost (OMR) nventory, Jan. 1 8,000 11 Purchases, June 19 13,000 12 Purchases, Nov. B 5,000 13 If 9,000 units are on hand at Docember 31. Compute the cost of the ending inventory under FIFO. Use periodic inventory system O a OMR 90,000 O b. OMR 113,00 OC. OMR 117,000 Od OMR 108,000 An item or tionsortion will qualify for elossification as o cash equivalent O a ifit hos a fixed maturity date less than twelve months O bif iea tirm to makeit no greater than twelve manths O c.if it hos remdining terrm of more than three months but no more than Rix menths O di only if it has a maruary of less than three months

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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The Oman company exported 200 gauge wires. The cost per unit OMR 140. What is the entry of cost of goods sold?Select one:a.Cost of goods sold Dr14,000Inventory Cr14,000b.Cost of goods sold Dr140Inventory Cr140c.Cost of goods sold Dr28,000Inventory Cr28,000d.Inventory Dr28,000Cost of goods sold Cr
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