1. As on 30 July the Cash book reports a bank balance of RO 4,250, without recording a credit transfer from a customer of RO 7,200 and a standing order payment of RO 4,500. Deposits awaiting clearance were RO 22,400 and the value of cheques yet to be presented on this date was RO 9,480. The bank balance is.

a.11370 overdraft

b.14470

c.5970 overdraft

d.19870

2. Fahad Express LLC is planning to buy a vehicle for its courier business. The cost of the Vehicle is RO 16000 and the useful life is 5 years. The vehicle was depreciated using Sum of Years digit method. The balance shown in the accumulated depreciation account at the end of third year is

a.RO 17333

b.RO 10667

c.RO 14667

d.RO 53333

3. Cash is borrowed on a 2-month note payable. If the interest cost to borrow is RO 400, and the cash proceeds received and available to use for the 60-day period is RO19600 what is the actual interest rate on this note?

a.12.45%

b.10.00%

c.12.00%

d.12.24%