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Question 2 Incorrect Mark O out of 1 p Flag question A company has counted its inventory on December 31, 2019. As per the count,
Question 2 Incorrect Mark O out of 1 p Flag question A company has counted its inventory on December 31, 2019. As per the count, the cost of inventory was OMR 4,000. Inventory received from consignor OMR 1,000. The following information were not considered while the counting the inventory. Inventory sold that is in transit OMR 1,000 (Freight term FOB Shipping Point). Inventory hased that is in transit OMR 1,000 (Freight term FOB Destination) a. OMR 6,000 b. OMR 5,000 Question 14 Incorrect Mark O out of 1 p Flag question On September 1, 2020, petty cash fund was established for OMR 500. During the month, the petty cashier has paid OMR 486 for the petty expenses and maintained vouchers for the same. While keeping OMR 16 cash in the petty cash box at the end of the month the petty cashier forwarded all the vouchers supporting the petty expenses with the main cashier and collected a cheque. Which one of the following is the correct effect for the reimbursement made? a. Cash Account OMR 484 (Dr) b. Petty Expenses Account OMR 484 (Dr) C. Cash Account OMR 486 (Cr) d. Cash over/short Account OMR 2 (Cr) Question 20 Incorrect Mark O out of 1 p Flag question Following are the details taken from bank reconciliation statement of Ibra LLC as on April 30, 2020. Bank balance after reconciliation as per bank statement OMR 23,089 Outstanding Cheques OMR 6,091 Deposit in transit OMR 4,895 Credit memo OMR 980 Find the bank balance before reconciliation as per bank statement. a. OMR 22,873 b. OMR 21,893 X c. OMR 25,265 d. OMR 24,285
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