Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

JUST NEED OPTION no need explain NO need for explanation i will rate you Assume that Abdul Aziz and Sons company's capital is OMR 250000.

JUST NEED OPTION

no need explain

NO need for explanation

i will rate you

image text in transcribed
image text in transcribed
Assume that Abdul Aziz and Sons company's capital is OMR 250000. They received OMR 50000 dividend income, OMR 10000 commission and OMR 20000 interest. What will be the effect of the different income received by the company on company's capital and assets? a. Current assets of the company decrease by OMR 80000 and Capital of the company decreased by OMR 80000 b. Current assets of the company increase by OMR 80000 and Capital of the company increased by OMR 80000 c. Current assets of the company decrease by OMR 80000 and Capital of the company increased by OMR 80000 d. Current assets of the company increase by OMR 80000 and Capital of the company decreased by OMR 80000 Johnson and Johnsons LLC have given following question to its accounting department employees to test their accounting knowledge. By assuming yourself as an employee of the company, identify which one of the following activity is relevant for the control the cash receipts a. Prepare a record of all cash receipts as soon as cash is received. b. Make refunds for returned merchandise from the cash register. e c. None of the given options 2 d. Checks to be serially numbered and limit access to cheques to employees authorized to write cheques. Next page DI

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Audit Maximizing Your Companys Efficiency And Effectiveness

Authors: John Nolan

1st Edition

0801975581, 978-0801975585

More Books

Students also viewed these Accounting questions