The income statement for the month of June 2020 of Muscat Company contains the following information: Revenues OMR 10,000 Total expenses 6,000 Net income OMR 4,000 The beginning balance for capital (Retained Earnings) of OMR 35,000 At June 1, 2020. On June 30, 2020, the company will report Capital (Retained Earnings) balance of Select one: O a. OMR 31,600 Ob. OMR 42,000. O c. None of the answers are correct O d. OMR 35,000. Oe. OMR 39,000.

The income statement for the month of June 2020 of Muscat Company contains the following information: Revenues OMR 10,000 Total expenses 6,000 Net income OMR 4,000 The beginning balance for capital (Retained Earnings) of OMR 35,000 At June 1, 2020. On June 30, 2020, the company will report Capital (Retained Earnings) balance of Select one: O a. OMR 31,600 Ob. OMR 42,000. O c. None of the answers are correct O d. OMR 35,000. Oe. OMR 39,000.

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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