On July 1, Muscat Company paid OMR 12,000 for One Year Rent in advance. The adjusting entry that should be made by the company on December 31 is: Select one:

a. Debit Rent Expense, 12,000; Credit Prepaid Rent, 12,000.

b. Debit Prepaid Rent, 6,000; Credit Rent Expense, 6,000

c. Debit Rent Expense, 12,000; Credit Prepaid Rent, 12,000

d. Debit Rent Expense, 6,000; Credit Prepaid Rent, 6,000

e. None of the answers are correct

Muscat Company purchased a computer for OMR 6,000 on July 1. The annual depreciation on the computer will be OMR 1200. The adjusting entry on December 31 should be: Select one:

a. Debit Depreciation Expense, OMR1200; Credit Accumulated Depreciation, OMR1200.

b. Debit Office Equipment, OMR1,200; Credit Accumulated Depreciation, OMR1,200

c. Debit Office Equipment, OMR600; Credit Accumulated Depreciation, OMR600

d. Debit Depreciation Expense, OMR600; Credit Accumulated Depreciation, OMR600

e. None of the answers are correct

Muscat Company purchased office supplies costing OMR20,000 . At the end of the accounting period, a physical count of office supplies revealed OMR5,000 still on hand. The Adjusting Entry should be Select one:

a. None of the answers are correct

b. Debit Office Supplies Expense, OMR5,000; Credit Office Supplies, OMR5,000

c. Debit Office Supplies Expense, OMR15,000; Credit Office Supplies, OMR15,000

d. Debit Office Supplies, OMR15,000; Credit Office Supplies Expense, OMR15,000

e. Debit Office Supplies, OMR15,000; Credit Office Supplies Expense, OMR15,000

ABC Inc. purchased a 12-month insurance policy on January 1, 2019 for OMR 2400. At June 30, 2019, The Adjusting Entry should be: Select one:

a. Debit to Insurance Expense, OMR 2400; Credit to Prepaid Insurance for OMR 2400

b. Debit to Insurance Expense, OMR 1200; Credit to Prepaid Insurance for OMR1200

c. Debit to Prepaid Insurance, OMR 1400; Credit to Insurance Expense for OMR 1400

d. None of the answers are correct

e. Debit to Prepaid Insurance, OMR 2400; Credit to Cash for OMR 2400