Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Q1: In the beginning of 2017, Ms. Maryam Al Rawabi and Ms. Fatma Al Hinai started a restaurant in Muscat. They decided to invest 5000
Q1: In the beginning of 2017, Ms. Maryam Al Rawabi and Ms. Fatma Al Hinai started a restaurant in Muscat. They decided to invest 5000 OMR and 6000 OMR as a capital and decided to share the profit or loss in the ratio of capital they have invested. First year restaurant incurred a loss of 2200 OMR, second year they made a profit of 1650 OMR and third year again they made a profit of 1100 OMR. a) What is the ratio of sharing profit or loss between Ms. Maryam and Ms. Fatma? b) How will you distribute the first year loss between Maryam and Fatma? c) After 03 years, Ms Maryam and Ms. Fatma are in profit or loss. Discuss with reasons d) After 03 years of business, do you think they should continue with the business? Give reasons to your
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started