Mars LLC started as petty cash fund. During the month of September, the receipts were RO 200 petrol, RO 65 stationery, RO 105 staff welfare and RO55 travelling and there was RO 35 left in the petty cash box. There was overage for RO 10. The Petty cash fund at the beginning of the month was

a.

RO 465

b.

RO 510

c.

RO 500

d.

RO 450

Horse LLC had opening stock of 400 kgs value RO 4000. They purchased 500kgs @ RO 11 and later on they purchased 300kgs RO 12. 700kgs were sold. The Cost of goods sold as per Last In First Out method will be:

a.

RO 5250

b.

RO 6000

c.

RO 8250

d.

RO 5500

In the year 2019 XYZ LLC had net sales is RO 55000 and gross profit is RO 8250. The net sales in 2020 is RO 75000 then the gross profit will be.

a.

RO 11250

b.

RO 8250

c.

RO 63750

d.

RO 46750

Al shams llc had accounts receivable for RO 25000. They sold the accounts receivable to the Factor for a service charge of 2%. The amount of cash to be recorded in the accounts is

a.

RO 24000

b.

RO 25500

c.

RO 24500

d.

RO 25000