Q1) On July 1, 2019, Hala company sold equipment for OMR 330,000. The equiprnent initially cost OMR 300,000, had an estimated 5-year life, and an expected residual value of OMR 150,000 The accumulated depreciation account balanced OMR 525,000 on January 1, 2019, using the straight-line method. What is the gain or loss on disposal?

a. OMR 30,000 gain. b. OMR 30,000 loss. c. OMR 45.000Q loss. d. OMR 45,000 gain.

Q2) On May 1, 2017, Muscat Company sold office furniture for OMR 80,000 cash. The office furniture intially cost OMR 200,000 when purchased on January 1, 2010. Depreciation is recorded by the straight-line method over 10 years with a residual value of OMR 20,000. What gain should be recoanized on the sale? a. OMR 6,00. b. OMR 12.000. c. OMR 12667 d. OMR 24000.