Zuhoor Muscat Company is a manufacturer of thermal imaging cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 3,425; 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; Fees Income: RO 60,625; Wages Expense: RO 22,855; Depreciation Expense: RO 4,950; Rent Expense: RO 4,200; Utilities Expense: RO 2,715; Supplies Expense: RO 890; Insurance Expense: RO 315; Miscellaneous Expense: RO 1,505; Unearned Fees: RO 750; Share Capital: RO 47,995; Accounts Payable: RO 925; Supplies: RO 380; Prepaid Insurance RO 305; Notes Payable: RO 1,000; Retained Earnings 1 April 2020: RO 0; Dividends: RO 5,200. The ending balance on Retained Earnings on 31 March 2021 is:
Zuhoor Muscat Company is a manufacturer of thermal imaging cameras. On 31 March 2021, the following balances are shown in its ledger accounts after adjustments: Cash: RO 3,425; 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; Fees Income: RO 60,625; Wages Expense: RO 22,855; Depreciation Expense: RO 4,950; Rent Expense: RO 4,200; Utilities Expense: RO 2,715; Supplies Expense: RO 890; Insurance Expense: RO 315; Miscellaneous Expense: RO 1,505; Unearned Fees: RO 750; Share Capital: RO 47,995; Accounts Payable: RO 925; Supplies: RO 380; Prepaid Insurance RO 305; Notes Payable: RO 1,000; Retained Earnings 1 April 2020: RO 0; Dividends: RO 5,200. The ending balance on Retained Earnings on 31 March 2021 is:
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Zuhoor Muscat Company is a manufacturer of thermal imaging cameras. On 31 March 2021, the
following balances are shown in its ledger accounts after adjustments: Cash: RO 3,425; Wages Payable:
RO 440; Office Equipment: RO 51,650; Accumulated Depreciation - Offie Equipment: RO 14,650;
Accounts Receivable: RO 8,000; Patents: RO 2,000; Fees Income: RO 60,625; Wages Expense: RO
22,855; Depreciation Expense: RO 4,950; Rent Expense: RO 4,200; Utilities Expense: RO 2,715;
Supplies Expense: RO 890; Insurance Expense: RO 315; Miscellaneous Expense: RO 1,505; Unearned
Fees: RO 750; Share Capital: RO 47,995; Accounts Payable: RO 925; Supplies: RO 380; Prepaid
Insurance RO 305; Notes Payable: RO 1,000; Retained Earnings 1 April 2020: RO 0; Dividends: RO
5,200. The ending balance on Retained Earnings on 31 March 2021 is:
O a. RO 17,995
O b. None of the options are correct
O c.
RO 16,995
O d. RO 17,599
Oe.
RO 18,699
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