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Receipt: from sales & marketing debtor:Rs 11,32,000, Commission:Rs 12,000, Total:Rs 11,44,000. Payments: purchase &Creditor:Rs7,22,000, operating expenses: Rs1,12,000, loan refund:Rs 1,25,000, intrest on loan paid:Rs 32,000, computer purchase for office parties on july1,2019 (expected life 5yrs): Rs 50,000, insurance on july,2019(1year):Rs 12,000, owner household expense:Rs 20,000, Total:Rs 10,73,000. owner equity:Rs 8,00,000, retained earing: Rs 5,20,000, loan: Rs 5,25,000 sundry creditor: Rs 1,25,000, outstanding operating expenses:Rs32,000, land: Rs 5,00,000, building:Rs 8,00,000, accm depreciation:Rs 1,20,000, debtor: Rs2,20,000 insurance prepaid:Rs 3000, inventroy:Rs 5,32,000, cash at bank:Rs 67000. Additional Information: Balance on Mach 31, 2020: Sundry Debtors: Rs 2, 80,000 Sundry Creditors: Rs 1, 22,000 Inventory Rs 6,30,000 Operating Expenses paid in advance Rs 21,000 Building was purchased on April 1, 2015. Its expected life is 20 years. Prepare
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- A credit sale of $3800 is made on April 25, terms 1/10, n/30, on which a return of $300 is granted on April 28. What amount is received as payment in full on May 4? $3465 • $3800 • $3500 Ⓒ $3762arrow_forwardMuffin Co. issues an $800,000, 10%, 10-year mortgage note on December 31, 2019, to obtain financing for a new building. The terms provide for semiannual installment payments of $64,194. Instructions Prepare two entrles to record the mortgage loan on December 31, 2019, and the first installment payment. Essay Toolbar navigation B I U Sarrow_forwardOn 1st July 2020 Bashir purchase a machine for RO 15,000. The terms of purchase was 20% cash and the balance to be paid in monthly instalments of RO 500. What amount of the loan will be disclosed under current liabilities in the balance sheet on 31 Dec 2020? a. RO 3,000 b. RO 6,000 c. RO 7,000 d. RO 5,000arrow_forward
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