intermediate Accounting

Question 28 Not yet owned worked out 1 Pog Which of the following statement is incorrect about a Petty Cosh tund? G. All statements are correct b. A company normally expects the amount in the fund to cover anticipated disbursements for a three to four month period, Octo establish the fund a company issues o check payable to the petty cash custodion for the stipulated amount od There are two essential stops in estabiating a petty cash fund which includes appointing a petty cash custodion and determining the size of the fund Question Question 29 NOTY Od Med out of 1 Which of the following is part of inventories of ABC Company a Goods in transit purchased by ABC Company, For shipping Point valued at OMR 1200 ob Goods in transit sold by ABC Company, Foe Destination valued at OMR 1800 DC All of these od Finished goods of ABC Company held out on consignment by XYZ Company worth OMR 800 question Oct 30 Not yet onward worked out of 1 ABC Company sold an old machine for OMR 3,000, the net book value of the machine at date of sale is OMR 3,800. How much is the gain or loss on sale? a. No gain or loss b. loss of OMR 800 OC Gain of OMR 3,000 Od Gain of OMR 800 hog