Mr. Ahmed is the owner of ABC company. He withdrew RO. 3000 from the business for his personal use. Which of the following is the correct presentation on the accounting equation?

Select one:

a.

Assets	=	Liabilities	+	Owners' Equity
- 3000 (Cash)	=	-3000 (Drawings)	+	0

b.

Assets	=	Liabilities	+	Owners' Equity
+ 3000 (Cash)	=	0	+	+3000 (Drawings)

c.

Assets	=	Liabilities	+	Owners' Equity
0	=	-3000 (Drawings)	+	+3000

d.

Assets	=	Liabilities	+	Owners' Equity
- 3000 (Cash)	=	0	+	-3000 (Drawings)

From the following information, calculate the net profit

Sales RO 40520

Cost of the goods sold RO 21400

Salaries Expense RO 8000

Electricity Expense RO 1900

Depreciation Expense RO 2200

Bank RO 9100

Computer RO 6700

Dividend income RO 970

Select one:

a. RO 17090

b. RO 14690

c. RO 25790

d. RO 7990

Extract of Balance sheet items as at 31 December 2019	OR
Equipment	20000
Account receivables	3500
Retained earnings	11500
Inventories	5000
Loan	3000
Bank overdraft	1500
Cash and bank	500
Mortgage loan	7500
Furniture	1650
Trade payables	6000
Accumulated Depreciation (Equipment)	1000
Short term Investments	200
Goodwill	4500
Drawings	1000
Capital	7150
Prepaid Expenses	1300

Calculate Total Net Assets(Total Assets)?

Select one:

a. 30350 OMR

b. 34350 OMR

c. 35350 OMR

d. 35650 OMR

Mr. Ali contributed RO. 24750 for his new business. He contributed furniture costing RO. 14000 and balance in cash. Which of the following is the correct presentation on the accounting equation?

Select one:

a.

Assets	=	Liabilities	+	Owners' Equity
10750 (Cash )	=	14000 (Furniture)	+	10750

b.

Assets	=	Liabilities	+	Owners' Equity
24750	=	14000 (Furniture)	+	10750 (Cash)

c.

Assets	=	Liabilities	+	Owners' Equity
10750 (Cash ) + 14000 (Furniture)	=	0	+	24750

d.

Assets	=	Liabilities	+	Owners' Equity
24750 (Capital)	=	0	+	10750 (Cash ) + 14000 (Furniture)