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P Flag question Your brother Amjad has started a small business on 15 January 2021 of buying and selling cars. The business started to make sales from the month of April 2021. You are been approached by him to maintain the accounts related to such business. In such process you come across with many events and transaction. Following are the transactions of Amjad from 1-January-2021 to 31-December-2021. Date Particulars OMR 1-Jan Started Business with cash 10,000 14-Feb Purchased Computer and Printer from Rahim for cash 1,200 16-Mar Purchased three Cars for cash 10,000 12-Apr Sold Car to Ali on Account 4,500 7-May Sold Car to Akbar on received 50% immediately and balance after 1 month 3,500 18-Jun Purchased a Car from Suhail payment will be made in August 4,750 20 Jun Payment received from Akbar for the sale made on 7th May 1,750 13-Jul Cash sales 2.750 14- Jul Received amount due from Ali for sales made on 12th April 4,500 Purchased Car from Azam on account 6,500 30-Sep Paid Rent by cheque 3,600 31-Oct Paid for Electricity 510 30-Nov Paid Water bill using debit card 100 As you are well versed with the basics of accounting, identify the appropriate treatment for the given situations: 8-Aug Amjad took a loan from Bank Muscat for RO 5,000 to be repaid over a period of 5 years. Such loan will be classified as: O 16 Not you wered Marked out of 100 O a Non-Current Assets O b. Current Liabilities Oc Non-Current Liabilities O d. Current Assets Pag question Question 17 Not yet answered Identify which common rules and principles you will follow in maintaining, reporting accounts, defining types of transactions, and other events with financial impact. Marked out of 1.00 O a IFRS Ob. GCC GAAP Oc Accounting principles O d. Oman GAAP Rag question Amjad purchased a computer and a printer for office use. Such computer and printer will be classified as: Question 18 Not yet answered Marted out of 1.00 O a Non-Current Liabilities b. Current Assets Oc Current Liabilities Od Non-Current Assets Pag question Calculate credit purchase made in the year 2021: Question 19 Not yet answered Marked out of 100 O a OMR 11,250 Ob. OMR 15,250 Oc OMR 11,520 Od OMR 12,150 Pag question to 20 Calculate credit sales made in the year 2021: Not yet red O a OMR 6,250 Marad out of b. OMR 5 260 100 COMR 2,650 Question MR 52 Type here to search