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Subscriptions outstanding at the end of the year RO 6,500

Salaries outstanding at the end of the year amounts to RO 3,000

Depreciation for furniture is 10% and sports equipment is 20%

Based on the above case, answer the following questions 7 questions (Question 35-41):

1.Based on the above case, the donation for building is taken as?

2. Based on the above case, the salary expense debited in income statement is?

3. The amount of salary outstanding to be shown in the Balance Sheet is?

4. The amount of subscription outstanding to be shown in the balance sheet is?

5. The depreciation for furniture amounts to?

6. The depreciation for sports equipment amounts to?

7. The Subscription credited to income statement amounts to?

Additional information:

Subscriptions outstanding at the end of the year RO 6,500

Salaries outstanding at the end of the year amounts to RO 3,000

Depreciation for furniture is 10% and sports equipment is 20%

Based on the above case, the donation for building is taken as:

a.

A Liability in the Balance Sheet

b.

An item of income in the income statement

c.

An asset in the Balance Sheet

d.

An item of expenditure in the income statement

Based on the above case, the salary expense debited in income statement is:

a.

RO 24,500

b.

RO 25,500

c.

RO 23,500

d.

RO 22,500

The amount of salary outstanding to be shown in the Balance Sheet is:

a.

RO 5,500

b.

RO 2,500

c.

RO 1,500

d.

RO 3,000

The amount of subscription outstanding to be shown in the balance sheet is:

a.

RO 11,000

b.

RO 6,500

c.

RO 4,500

d.

RO 2,000

The depreciation for furniture amounts to:

a.

RO 2,800

b.

RO 2,400

c.

RO 1,200

d.

RO 600

The depreciation for sports equipment amounts to:

a.

RO 11,000

b.

RO 14,000

c.

RO 13,000

d.

RO 8,000

The Subscription credited to income statement amounts to:

a.

RO 54,800

b.

RO 58,800

c.

RO 61,300

d.

RO 63,300

Given below is the opening Balance sheet and Receipts and Payments account of Majan Club for the year ending 31st December 2020. Balance Sheet as on 31st December 2019 (Opening Balance Sheet) Liabilities OMR Assets Salary outstanding 2,500 Cash in hand Capital fund (Balancing Subscriptions figure) 71,100 outstanding Investments Furniture Sports equipments 73,600 Receipts and Payments account Receipts OMR Payments Balance b/d 2,100 Rent Subscriptions 56,800 Salaries Interest 400 Sundry expenses Donation(General purpose) 6,000 Investment purchase Donation for building fund 55,000 Newspapers Sports equipments purchased on 30-06 Miscellaneous receipts 620 2020 Sale of old newspapers 200 Balance cld 121,120 Given below is the opening Balance sheet and Receipts and Payments account of Majan Club for the year ending 31st December 2020. Balance Sheet as on 31st December 2019 (Opening Balance Sheet) Liabilities OMR Assets Salary outstanding 2,500 Cash in hand Capital fund (Balancing Subscriptions figure) 71,100 outstanding Investments Furniture Sports equipments 73,600 Receipts and Payments account Receipts OMR Payments Balance b/d 2,100 Rent Subscriptions 56,800 Salaries Interest 400 Sundry expenses Donation(General purpose) 6,000 Investment purchase Donation for building fund 55,000 Newspapers Sports equipments purchased on 30-06 Miscellaneous receipts 620 2020 Sale of old newspapers 200 Balance cld 121,120 Given below is the opening Balance sheet and Receipts and Payments account of Majan Club for the year ending 31st December 2020. Balance Sheet as on 31st December 2019 (Opening Balance Sheet) Liabilities OMR Assets Salary outstanding 2,500 Cash in hand Capital fund (Balancing Subscriptions figure) 71,100 outstanding Investments Furniture Sports equipments 73,600 Receipts and Payments account Receipts OMR Payments Balance b/d 2,100 Rent Subscriptions 56,800 Salaries Interest 400 Sundry expenses Donation(General purpose) 6,000 Investment purchase Donation for building fund 55,000 Newspapers Sports equipments purchased on 30-06 Miscellaneous receipts 620 2020 Sale of old newspapers 200 Balance cld 121,120 Additional information: Subscriptions outstanding at the end of the year RO 6,500 Salaries outstanding at the end of the year amounts to RO 3,000 Depreciation for furniture is 10% and sports equipment is 20% Based on the above case, answer the following questions 7 questions (Question 35-41) Based on the above case, the donation for building is taken as: O a. A Liability in the Balance Sheet O b. An item of income in the income statement O c. An asset in the Balance Sheet . O d. An item of expenditure in the income statement Based on the above case, the salary expense debited in income statement is: O a. RO 24,500 O b. RO 25,500 O c. RO 23,500 O d. RO 22,500 The amount of salary outstanding to be shown in the Balance Sheet is: O a. RO 5,500 O b. RO 2,500 O c. RO 1,500 O d.RO 3,000 The amount of subscription outstanding to be shown in the balance sheet is: O a. RO 11,000 O b. RO 6,500 O c. RO 4,500 O d.RO 2,000 The depreciation for furniture amounts to: O a. RO 2,800 O b. RO 2,400 O C. RO 1,200 O d. RO 600 The depreciation for sports equipment amounts to: O a. RO 11,000 O b. RO 14,000 O c. RO 13,000 O d. RO 8,000 P Flag question The Subscription credited to income statement amounts to: O a. RO 54,800 O b. RO 58,800 O C. RO 61,300 O d. RO 63,300 Given below is the opening Balance sheet and Receipts and Payments account of Majan Club for the year ending 31st December 2020. Balance Sheet as on 31st December 2019 (Opening Balance Sheet) Liabilities OMR Assets Salary outstanding 2,500 Cash in hand Capital fund (Balancing Subscriptions figure) 71,100 outstanding Investments Furniture Sports equipments 73,600 Receipts and Payments account Receipts OMR Payments Balance b/d 2,100 Rent Subscriptions 56,800 Salaries Interest 400 Sundry expenses Donation(General purpose) 6,000 Investment purchase Donation for building fund 55,000 Newspapers Sports equipments purchased on 30-06 Miscellaneous receipts 620 2020 Sale of old newspapers 200 Balance cld 121,120 Given below is the opening Balance sheet and Receipts and Payments account of Majan Club for the year ending 31st December 2020. Balance Sheet as on 31st December 2019 (Opening Balance Sheet) Liabilities OMR Assets Salary outstanding 2,500 Cash in hand Capital fund (Balancing Subscriptions figure) 71,100 outstanding Investments Furniture Sports equipments 73,600 Receipts and Payments account Receipts OMR Payments Balance b/d 2,100 Rent Subscriptions 56,800 Salaries Interest 400 Sundry expenses Donation(General purpose) 6,000 Investment purchase Donation for building fund 55,000 Newspapers Sports equipments purchased on 30-06 Miscellaneous receipts 620 2020 Sale of old newspapers 200 Balance cld 121,120 Given below is the opening Balance sheet and Receipts and Payments account of Majan Club for the year ending 31st December 2020. Balance Sheet as on 31st December 2019 (Opening Balance Sheet) Liabilities OMR Assets Salary outstanding 2,500 Cash in hand Capital fund (Balancing Subscriptions figure) 71,100 outstanding Investments Furniture Sports equipments 73,600 Receipts and Payments account Receipts OMR Payments Balance b/d 2,100 Rent Subscriptions 56,800 Salaries Interest 400 Sundry expenses Donation(General purpose) 6,000 Investment purchase Donation for building fund 55,000 Newspapers Sports equipments purchased on 30-06 Miscellaneous receipts 620 2020 Sale of old newspapers 200 Balance cld 121,120 Additional information: Subscriptions outstanding at the end of the year RO 6,500 Salaries outstanding at the end of the year amounts to RO 3,000 Depreciation for furniture is 10% and sports equipment is 20% Based on the above case, answer the following questions 7 questions (Question 35-41) Based on the above case, the donation for building is taken as: O a. A Liability in the Balance Sheet O b. An item of income in the income statement O c. An asset in the Balance Sheet . O d. An item of expenditure in the income statement Based on the above case, the salary expense debited in income statement is: O a. RO 24,500 O b. RO 25,500 O c. RO 23,500 O d. RO 22,500 The amount of salary outstanding to be shown in the Balance Sheet is: O a. RO 5,500 O b. RO 2,500 O c. RO 1,500 O d.RO 3,000 The amount of subscription outstanding to be shown in the balance sheet is: O a. RO 11,000 O b. RO 6,500 O c. RO 4,500 O d.RO 2,000 The depreciation for furniture amounts to: O a. RO 2,800 O b. RO 2,400 O C. RO 1,200 O d. RO 600 The depreciation for sports equipment amounts to: O a. RO 11,000 O b. RO 14,000 O c. RO 13,000 O d. RO 8,000 P Flag question The Subscription credited to income statement amounts to: O a. RO 54,800 O b. RO 58,800 O C. RO 61,300 O d. RO 63,300

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