The following are the balances of NBO for the year ended 31/12/20 Particulars OMR Particulars OMR Interest on 518,000 Interest on 84,000 loans current accounts Interest on 550,000 Rent& taxes 36,000 Fixed deposits Commission 16,000 Interest on 308,000 received overdrafts Salaries and 108,000 Director's fees 6,000 allowances Discount on 292,000 Auditor's fees 2,000 bills discounted Rebate on bills 98,000 Interest on 136,000 discounted savings bank deposits Interest on 446,000 Postage and 3,000 cash credit telegraph Printing and 6,000 Lockers rent 2,000 stationery Transfer fees 1,000 Depreciation on 10,000 bank property Sundry 4,000 Charges Other Information: Provision for bad debts to be made OMR 80,000 Provision for income tax required at OMR 300,000

The following are the balances of NBO for the year ended 31/12/20 Particulars OMR Particulars OMR Interest on 518,000 Interest on 84,000 loans current accounts Interest on 550,000 Rent& taxes 36,000 Fixed deposits Commission 16,000 Interest on 308,000 received overdrafts Salaries and 108,000 Director's fees 6,000 allowances Discount on 292,000 Auditor's fees 2,000 bills discounted Rebate on bills 98,000 Interest on 136,000 discounted savings bank deposits Interest on 446,000 Postage and 3,000 cash credit telegraph Printing and 6,000 Lockers rent 2,000 stationery Transfer fees 1,000 Depreciation on 10,000 bank property Sundry 4,000 Charges Other Information: Provision for bad debts to be made OMR 80,000 Provision for income tax required at OMR 300,000

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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