The company took a bank loan of RO. 10000 from Bank Muscat. Which of the following is the correct presentation on the accounting equation?

Select one:

a.

Assets	=	Liabilities	+	Owners' Equity
5000 (Cash )	=	0	+	5000 (Bank Loan)

b.

Assets	=	Liabilities	+	Owners' Equity
10000 (Cash )	=	10000 (Bank Loan)	+	0

c.

Assets	=	Liabilities	+	Owners' Equity
0	=	5000 (Cash_	+	-5000 (Bank Loan)

d.

Assets	=	Liabilities	+	Owners' Equity
0	=	10000 (Bank Loan)	+	0

XYZ Co. has current assets of OR 75000 and total assets of OR 210000. It has current liabilities of OR 45000 and total liabilities of OR 110000. If during the year he had drawings OR 7500, retained earnings OR 34000 & Net Profit for the year OR 12500. Calculate the Total long-term liabilities?

Select one:

a. 39000 OMR

b. 70000 OMR

c. 65000 OMR

d. 100000 OMR

From the following information, calculate Net Profit (Loss)

Sales RO 40520

Cost of the goods sold RO 21400

Salaries Expense RO. 18000

Electricity Expense RO. 1900

Depreciation Expense RO. 2200

Bank RO. 9100

Computer RO 6700

Dividend income RO 970

Select one:

a. RO (2010)

b. RO (17090)

c. RO 2010

d. RO (19120)

On 5 December 2020, Manal Trading company sold goods to a customer on account for 37800 OMR.

Which of the following is the correct journal entry for the transaction?

Select one:

A.

Date	Accounts	Debit (RO)	Credit (RO)
05.12.2020	Receivable	37800
	Sales (Revenue)		37800

B.

Date	Accounts	Debit (RO)	Credit (RO)
05.12.2020	Sales (Revenue)	37800
	Receivable		37800

C.

Date	Accounts	Debit (RO)	Credit (RO)
05.12.2020	Cash	37800
	Sales (Revenue)		37800

D.

Date	Accounts	Debit (RO)	Credit (RO)
05.12.2020	Receivable	73800
	Sales (Revenue)		73800

XYZ Co. has current assets of OR 75000 and total assets of OR 210000. It has current liabilities of OR 45000 and total liabilities of OR 110000. If during the year he had drawings OR 7500, retained earnings OR 34000 & Net Profit for the year OR 12500. What will be the amount of XYZ's Opening Capital?

Select one:

a. 39000 OMR

b. 61000 OMR

c. 70000 OMR

d. 100000 OMR

If the value of liabilities is 30000 OMR and Assets are 100000 OMR. Which of the following is the amount of Owner Capital?

Select one:

a. 10000 OMR

b. 70000 OMR

c. 100000 OMR

d. 90000 OMR

On 1.1.2019 Dhofar company bought the car for OMR 15000. The expected useful life of the car is 5 years. The Adjusting entry of depreciation is

Select one:

a.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	Accumulated depreciation Depreciation Expense	15000	15000

b.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	Depreciation Expense Accumulated depreciation	3000	3000

c.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	Depreciation Expense Accumulated depreciation	15000	15000

d.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	Accumulated depreciation Depreciation Expense	5000	5000

On 31 December 2019, appeared that rent for November and December was not paid (rent per month RO 200). The adjusting entry on 31 December 2019 is

Select one:

a.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	cash rent	400	400

b.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	cash rent	200	200

c.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	Rent Rent payable	400	400

d.

Date	Particulars	Debit (OMR)	Credit (OMR)
31 .12	Rent Rent payable	200	200