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The following are the details found by Hind from the books of Al Ahlia LLC. Cash RO 1,000,000 Receivables RO 150,000 Debtors RO 150,000 Plant
The following are the details found by Hind from the books of Al Ahlia LLC. Cash RO 1,000,000 Receivables RO 150,000 Debtors RO 150,000 Plant RO 800,000 Machinery RO 400,000 Furniture RO 200,000 Current debts RO 600,000 Long term loans RO 800,000 Debentures RO 200,000 Owners Equity RO 1,100,000 The current price index is 280The plant and machinery and long term debt were acquired when price index was at 180. You are required to revise the summary balance sheet to restate equity in terms of current value of Rial.
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