Question: JUST NEED OPTION no need explain NO need for explanation i will rate you TETES III From the following balances you are required to prepare

JUST NEED OPTION

no need explain

NO need for explanation

i will rate you

will rate you TETES III From the following balances you are required

TETES III From the following balances you are required to prepare a Balance Sheet and answer the following questions. Account names Amount in OMR Net profit 100,000 Capital 200,000 Drawings 20,000 Long term loans 40,000 Accounts payable 16,000 Rent payable 2,000 Salary payable 4,000 Building 220,000 Machinery 62,000 Furniture 16,000 Cash 2,000 Accounts receivable 30,000 Supplies 12,000 TETA III Supplies 12,000 1. What is the amount of Total Owner's equity? (1 Mark) 2. What is the amount of Total assets? (1 Mark) 3. What is the amount of Total liabilities? (1 Mark)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

JUST NEED OPTION no need explain NO need for explanation i will rate you THEON III From the following Trial balance, you are required to prepare an Income Statement and answer the following...

JUST NEED OPTION no need explain NO need for explanation i will rate you T.. III Carefully analyze the following account balances extracted from the books of Mr. Rashid and answer the questions...

Questions. 1.a)The following balances were extracted from the books of spikes Ltd on 31 st Dec 2001. Shs. Fixed Assets42,000 Stock48,000 Debtors50,000 Bank overdraft25,000 Creditors40,000 Cash in...

JUST NEED OPTION no need explain NO need for explanation i will rate you III Question 20 Not yet answered Marked out of 1.00 P Flag question Drawings of OMR 100 will be: e (1 Mark) Previous page Next...

1. Indicate the account in which the following entries as made. (4mks) Entry Account Bad debts Carriage inwards Returns inwards Discounts given Gross profit Purchases Drawings Pre-paid rent...

Question 1 ( 3 0 marks ) A . At the beginning of the year, the long - term debt of Company x was $ 3 , 5 0 0 , 0 0 0 . At the end of the year, long - term debt was $ 3 , 2 0 0 , 0 0 0 . The interest...

JUST NEED OPTION no need explain NO need for explanation i will rate you RR Trading LLC is closing its book and required to prepare a bank reconciliation statement because of finding difference...

1. The Diamond Company had the following balances as on 31 December, 2020. (5 Marks) Particulars Amount (OMR) Land and Building 90,000 Prepaid Expenses 20,000 Cash in hand 7,300 Accounts Receivable...

Hi! I have completed the exam, but am looking for someone to provide the answer key! Name: PENN ID: _________________________ ACCOUNTING 101 - 620, EXAM #1 Spring Semester, 2010 Instructions: 1. 2....

I have attached the question as a word file, thanks! As we enter week 8, what did you learn from this course? How will the information be useful in your other classes and in your career? Running...

A metal bar has a Density of 11.8 g/ml. The volume of the bar is 900 ml What is the mass of the bar in Kg (kilograms)? . 12,672 g .11.688 g O c 3, 950 g O d. 10.620 Kg O e. 12.672 Kg O f. 9.000 Kg....

Are there different types of permissions for Linux and Windows systems? How are permissions inherited when users are members of multiple user groups? Windows has share and NTFS (Security tab)...

As a venture capitalist, should you stick with traditional ( color - blind and gender - neutral ) economic criteria or use race, gender, and other diversity and inclusivity dimensions as part of the...

The first scenario will be a Verbal Judo scenario in which your scenario follows the standard Verbal Judo interaction: You need to ask somebody to modify their behavior either to do something or to...

6. Assume you are in charge of establishing a training program for supervisors in administering discipline. Based on the supervisors potential role in the disciplinary process, formulate and discuss...

1. Wrongful Discharge. A reference is made in this chapter to a RAND study on the economic consequences of wrongful termination. Find an abstract of the study on RANDs Web site. What effect does the...

4. Seven Tests for Just Cause. A common test for determining whether just cause exists for imposing disciplinary actions was developed by arbitrator Carroll Daugherty in 1966. The standard is known...