Salary expanse depited in income statement? Amount of salary outstanding in the balanced sheets?amount of subscriptions outstanding in balance sheet ? deprication for furniture?deprication of sport equ A moodle.nct.edu.omNCT e-Learning PortalCoursesReports -e-Services - Academic DepartmentsETCase :P FlagquestionThe accountant of the club furnishes the following particulars of the Club toyou:Balance Sheet for the year ending 31st December 2019LiabilitiesOMRAssetsOMRSalary outstanding2,500Cash in hand2,100Capital fund(Balancing figure)Subscriptions71,100outstanding4,500Investments15,000Furniture12,000Sports equipments 40,00073,60073,600Receipts and Payments accountReceiptsOMRPaymentsOMRBalance b/d2,100Rent9,500Subscriptions56,800 Salaries25,000Interest400Sundry expenses3,500Donation(Generalpurpose)6,000Investment purchased25,000Donation for buildingfund55,000 Newspapers800Sports equipmentspurchased on 30-06-Miscellaneous receipts 620201930,000Sale of old newspapers 200Balance c/d27,320121,120121,120Additional information:Subscriptions outstanding at the end of the year RO 6,500Salaries outstanding at the end of the year amounts to RO 3,000Depreciation for furniture is 10% and sports equipment is 20%Note: Based on the above case, you are required to answer questions 35-41 (7 Questions)

Balance sheet: It is a statement which reports both assets and liabilities as on a particular date…

Answered: Salary expanse depited in income…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Salary expanse depited in income statement?
Amount of salary outstanding in the balanced sheets?

amount of subscriptions outstanding in balance sheet ?

deprication for furniture?

deprication of sport equ

A moodle.nct.edu.om
NCT e-Learning Portal
Courses
Reports -
e-Services - Academic Departments
ET
Case :
P Flag
question
The accountant of the club furnishes the following particulars of the Club to
you:
Balance Sheet for the year ending 31st December 2019
Liabilities
OMR
Assets
OMR
Salary outstanding
2,500
Cash in hand
2,100
Capital fund
(Balancing figure)
Subscriptions
71,100
outstanding
4,500
Investments
15,000
Furniture
12,000
Sports equipments 40,000
73,600
73,600
Receipts and Payments account
Receipts
OMR
Payments
OMR
Balance b/d
2,100
Rent
9,500
Subscriptions
56,800 Salaries
25,000
Interest
400
Sundry expenses
3,500
Donation(General
purpose)
6,000
Investment purchased
25,000
Donation for building
fund
55,000 Newspapers
800
Sports equipments
purchased on 30-06-
Miscellaneous receipts 620
2019
30,000
Sale of old newspapers 200
Balance c/d
27,320
121,120
121,120
Additional information:
Subscriptions outstanding at the end of the year RO 6,500
Salaries outstanding at the end of the year amounts to RO 3,000
Depreciation for furniture is 10% and sports equipment is 20%
Note: Based on the above case, you are required to answer questions 35-
41 (7 Questions)

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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