Zuhoor Muscat Company is a manufacturer of miniature security cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 2,925; Wages Payable: RO 440; Office Equipment: RO 51,650; Accumulated Depreciation- Office Equipment: RO 14,650; Accounts Receivable: RO 8,000; Patents: RO 2,000; Unearned Fees: RO 750; Share Capital: RO 47,000; Accounts Payable: RO 925; Supplies: RO 380; Retained Earnings: RO 995; and Prepaid Insurance RO 305; Notes Payable: RO 500. The total intangible assets appearing in the Statement of Financial Position on 31 March 2021 is: O a. RO 2,000 O b. RO 305 O c. RO 14,650 O d. None of the options are correct O e. RO 51,650
Zuhoor Muscat Company is a manufacturer of miniature security cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 2,925; Wages Payable: RO 440; Office Equipment: RO 51,650; Accumulated Depreciation- Office Equipment: RO 14,650; Accounts Receivable: RO 8,000; Patents: RO 2,000; Unearned Fees: RO 750; Share Capital: RO 47,000; Accounts Payable: RO 925; Supplies: RO 380; Retained Earnings: RO 995; and Prepaid Insurance RO 305; Notes Payable: RO 500. The total intangible assets appearing in the Statement of Financial Position on 31 March 2021 is: O a. RO 2,000 O b. RO 305 O c. RO 14,650 O d. None of the options are correct O e. RO 51,650
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Zuhoor Muscat Company is a manufacturer of miniature security cameras. On 31 March 2021, the following balances are
shown in its ledger accounts after adjustments: Cash: RO 2,925; Wages Payable: RO 440; Office Equipment: RO 51,650;
Accumulated Depreciation - Office Equipment: RO 14,650; Accounts Receivable: RO 8,000; Patents: RO 2,000; Unearned
Fees: RO 750; Share Capital: RO 47,000; Accounts Payable: RO 925; Supplies: RO 380; Retained Earnings: RO 995; and
Prepaid Insurance RO 305; Notes Payable: RO 500. The total intangible assets appearing in the Statement of Financial
Position on 31 March 2021 is:
O a. RO 2,000
O b. RO 305
RO 14,650
O d. None of the options are correct
RO 51,650
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