Given below is the opening Balance sheet and Receipts and Payments account of Majan Club for the year ending 31^st December 2020.

Balance Sheet as on 31st December 2019 (Opening Balance Sheet)

Liabilities	OMR	Assets	OMR
Salary outstanding	2,500	Cash in hand	2,100
Capital fund (Balancing figure)	71,100	Subscriptions outstanding	4,500
		Investments	15,000
		Furniture	12,000
		Sports equipments	40,000
	73,600		73,600

Receipts and Payments account

Receipts	OMR	Payments	OMR
Balance b/d	2,100	Rent	9,500
Subscriptions	56,800	Salaries	25,000
Interest	400	Sundry expenses	3,500
Donation(General purpose)	6,000	Investment purchased	25,000
Donation for building fund	55,000	Newspapers	800
Miscellaneous receipts	620	Sports equipments purchased on 30-06-2020	30,000
Sale of old newspapers	200	Balance c/d	27,320
	121,120		121,120

Additional information:

Subscriptions outstanding at the end of the year RO 6,500

Salaries outstanding at the end of the year amounts to RO 3,000

Depreciation for furniture is 10% and sports equipment is 20%

1)

Based on the above case, the donation for building is taken as:

a.

An item of expenditure in the income statement

b.

An asset in the Balance Sheet

c.

A Liability in the Balance Sheet

d.

An item of income in the income statement

2)

Based on the above case, the salary expense debited in income statement is:

a.

RO 23,500

b.

RO 25,500

c.

RO 24,500

d.

RO 22,500

3)

The amount of salary outstanding to be shown in the Balance Sheet is:

a.

RO 1,500

b.

RO 5,500

c.

RO 3,000

d.

RO 2,500

4)

The amount of subscription outstanding to be shown in the balance sheet is:

a.

RO 2,000

b.

RO 11,000

c.

RO 4,500

d.

RO 6,500

5)

The depreciation for furniture amounts to:

a.

RO 2,400

b.

RO 600

c.

RO 2,800

d.

RO 1,200

6)

The depreciation for sports equipment amounts to:

a.

RO 13,000

b.

RO 11,000

c.

RO 14,000

d.

RO 8,000

7)

The Subscription credited to income statement amounts to:

a.

RO 54,800

b.

RO 61,300

c.

RO 58,800

d.

RO 63,300