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32-33 i have exam now Ali Mohammed and Abdullah started a business. They agreed to share responsiteties, skills, Profits and losses. Ali invested RO 10,000,
32-33
i have exam now
Ali Mohammed and Abdullah started a business. They agreed to share responsiteties, skills, Profits and losses. Ali invested RO 10,000, Abdullah invested RO 12,000 and Mohammed invested RO 8000 in the business They acquired the following: Machine worth RO 2000 Furniture worth RO 1000 Supplies worth RO 500, Motor Car worth RD 2000. They also have bille payable worth RO 50, Salaries payable RO 200, rent payable RO 50 and the business alio has a long term loan of RO 5000. The business had Instance expense of RO 500 and Utility expense of RO 200 Answer the following questions based on the above came . The type of the business is represented in the above case? Partners Sole Proprietorship O Corporation Single Business Owner of the partners decided to invest (bring in capital in the form of cash) 1000 OMR more in the busine, which account will you Debit in this transaction O Loan NC o Capital Alc O Cash A/C Equity AC Step by Step Solution
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