Question
Ayesha company received rent RO 4000 in the year 2018 covering the eight months till August 2019. The company lended a loan of RO 17,500
Ayesha company received rent RO 4000 in the year 2018 covering the eight months till August 2019. The company lended a loan of RO 17,500 on 31st March,2018 to Mr.Aqeel to be repaid on 31st December,2018 together with interest of 6%. Mr. Aqeel repaid on the due date. The company's statement of Finacial position for the year 2018 will report:
a.
Current assets RO 22,375 and Current liabilities nil
b.
Current assets Ro 4000 and Current liabilities RO 18,375
c.
Current assets nil and Current liabilities RO 22,375
d.
Current assets RO 18,375 and Current liabilities RO 4000
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