The company issued OMR 100,000 bond at OMR 104 for 16 years. What will be the amount of premium to be amortized in each year?

Question 12 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Identify the incorrect statement from the following?

Question 13 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text A debt instrument, also referred to as an instrument of indebtedness, can be in the form of:

Question 14 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text When the bonds are issued at discount then:

Question 15 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Interest expenses OMR 200

Interest payable OMR 100

Advertisement OMR 50

Insurance expense OMR 60

Rent received OMR 90

Loss on sale of furniture OMR 75

Sold furniture for profit of OMR 110

Interest received OMR 20

Gross profit OMR 172

Sales discount OMR 16

Sale returns OMR 12

Sales revenue OMR 400

Calculate the net sales:

Question 16 Answer saved Marked out of 1.00 Not flaggedFlag question Question text The bonds in which the investor name is not mentioned in the company register is known as: Bearer bonds

Question 17 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text When cost of goods sold are deducted from net sales we get:

Question 18 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text When the shares are issued on premium in exchange of Land, which of the following account will be debited?

Question 19 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text On January 1 2014, Senior Company has sold OMR 400,000 10 year, 5% bonds at $98. Interest is payable semi-annually on June 30th and December 31st every year till the bonds maturity. Which journal entry will be passed for amortization of discount on December 31st 2014?

Question 20 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text Interest expenses OMR 200

Interest payable OMR 100

Advertisement OMR 50

Insurance expense OMR 60

Rent received OMR 90

Loss on sale of furniture OMR 75

Sold furniture for profit of OMR 110

Interest received OMR 20

Gross profit OMR 172

Sales discount OMR 16

Sale returns OMR 12

Sales revenue OMR 400

Find the operating income