4 Not yet awered Marked out of 2.00 Flag question On J-5th, Al-awadi Co. paid OMR24,000 for a one-year fire insurance policy, beginning Aug 1. Show the entry to record the purchase of the insurance. An analysis of the policy reveals that OMR 2,000 (OMR 24,000/12) of insurance expires each month. If the financial position is prepared, the prepaid insurance should be: Select one: O a. OMR 26,000 O b. OMR 2,000 Oc. None of the answers are correct O d. OMR 22,000 O e. OMR 24,000 Question 7 Marked out of 2.00 Accounts Cash Dr OMR 65,485 Cr Short-term investments 28,250 Flag question Accounts receivable 165,824 Allowance for doubtful accounts 50 Inventories 489,713 Supplies 9,780 Prepaid expenses 16,252 Long-term investments 87,500 Land-at cost 125,000 Buildings-at cost 975,800 Accumulated depreciation Buildings 341,200 Goodwill 100,000 If this information was used to prepare a statement of financial position, Total Assets should be Allowance for doubtful accounts Inventories Supplies Prepaid expenses Long-term investments Land-at cost Buildings-at cost Accumulated depreciation-Buildings Goodwill CamScanner 1.850 489,713 9780 16,252 87,500 125,000 975,800 341,200 100.000 If this information was used to prepare a statement of financial position, Total Assets should be Select one: O a. None of the answers are correct O b. 1,923,554 O c. 1,504,454 O d. 1,743,554 O e. 1,658,454 Question 6 Not yet answered Marked out of 2.00 Flag question Alawi Co. purchased advertising supplies costing OMR50,000 on May 7. An inventory count at the close of business on May 31 reveals that OMR20,000 of the advertising supplies are still on hand. If the financial position is prepared, the advertising supplies should be: Select one: O a. OMR70,000 b. OMR20,000 O c. None of the answers are correct O d. OMR30,000 O e. OMR50,000 Previous page Next page