Question
Following financial information details are given from the books of Falcon International: Opening value of Land OMR 145,000 Closing value of vehicle OMR 13,500 Opening
Following financial information details are given from the books of Falcon International:
Opening value of Land OMR 145,000
Closing value of vehicle OMR 13,500
Opening value of vehicle OMR 15,000
Closing production capacity OMR 150,000
At the end of the year land was revalued at OMR 148,000
Closing value of building increased by 5 %
Opening value building 145,000
Opening production productive capacity OMR 175,000
Calculate the value of profit under financial concept of capital:
a) OMR 8,750 Profit
b) OMR 10,250 Loss
c) OMR 7,250 Loss
d) OMR 7,250 Profit
Calculate the value of profit under physical concept of capital:
a) OMR 25,000 Loss
b) OMR 27,000 Loss
c) OMR 25,000 Profit
d) OMR 30,000 Profit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started