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plz solve these!! You are given the following information OMR Sales 20,000 Cost of goods sold 10,000 Administrative expenses 200 500 Salary to partner A
plz solve these!!
You are given the following information OMR Sales 20,000 Cost of goods sold 10,000 Administrative expenses 200 500 Salary to partner A Commission to partner B 200 Profit sharing ratio 1:1 Net profit/ Loss of the firm is OMR 10.500 OMR 9.900 OMR 5.000 Profit and loss appropriation account is an extension of Capital accounts Profit and loss account Cash flow statement Balance sheet Which among the following journal entries is used to wander interest on drawings to profit and Lot App Dr. Profit and lots Appropriation account C. Partners Current accounts De Interest on drawings Cr. Proffit and loss Appropriation account Dr Partner current accounts Cl. Profit and account None of these Super profit occurs when: Average profit is more than normal profit When capitalized value of firm is more than net assets. Actual profit is less than normal profit None of the listed choice Step by Step Solution
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