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choose the correct answer 66. Following balances are taken from the adjusted trial balance of a service business: Capital OMR 10,000; Cash OMR 3,500; Service
choose the correct answer
66. Following balances are taken from the adjusted trial balance of a service business: Capital OMR 10,000; Cash OMR 3,500; Service revenue 8,500; Outstanding salary OMR 2,500; Prepaid interest OMR 3,000; Commission received OMR 1,000; Office expense OMR 6,500 and prepaid salary OMR 4,000. What will be the net profit or net loss of the business? A. Net profit of OMR 3,000 B. Net loss of OMR 2,000 C. Net loss of OMR 3,000 D. Net profit of OMR 14,500Step by Step Solution
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